HDFC AMC IPO was a big hit among investors with 83 times subscription and its listing at 58% premium to issue price, these are awesome returns within a period of one week.
HDFC Asset Management Company (HDFC AMC) on Monday made a strong market debut on the bourses, as the scrip got listed at Rs 1,739, a 58.09 per cent premium to its issue price of Rs 1,100 on BSE. On NSE, the scrip got listed at 1,726.25, up 56.93 per cent.
The scrip was trading 65 per cent higher at Rs 1,815 over issue price on NSE at around 3.30 pm.
Should you book profit?
it looks good for retail investors to take part profit as a higher listing meant a likely moderation in future gain prospects. For long term prospective it will give good returns.
we expects the stock to hit Rs 2100 level in the next 6-12 months. “But investors with a very short-term horizon may book one-fourth or even half of their holdings as we were expecting the stock to list anywhere between Rs 1,600 and Rs 1,700.