Paradeep Phosphates Lists At Rs. 43.55/ Share On BSE; Gain Of 4% Over IPO Price

Paradeep Phosphates shares listed at Rs. 43.55 per share on the BSE, while its NSE listing has been at a price of Rs. 44 per share.According to stock market experts, Paradeep Phosphates IPO received dull response from investors despite being offered at an attractive valuations. They said that market sentiments are bearish and hence the stock may have a par debut today. They said that Paradeep Phosphates shares may list around ₹45 to ₹52, depending upon the market mood.

On Paradeep Phosphates IPO listing price, Ravi Singhal, Vice Chairman at GCL Securities said, However, he maintained that stock looks promising from medium to long term perspective and one can hold the stock after listing for 6 months to 12 months.

Speaking on Paradeep IPO listing, Abhay Doshi, Founder at UnlistedArena.com said, "Alike other IPOs, Paradeep Phosphates limited too got a dull response from the market participants due to continuous sell off in the broader market. However, Paradeep Phosphates limited was priced reasonably compared to its peers. Thus, looking at market conditions, it seems, Paradeep Phosphates limited too shall list at par around its issue price."

Expecting Paradeep Phosphates shares to list around the issue price, Manoj Dalmia, Vice President & Head of Research at Share India said, "The public issue may list around its issue price but considering attractive valuations and reasonable pricing, it is worth holding the stock for long term."

The IPO band of the issue has been Rs. 39-42 per share.

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