Orbit lists on 12th April, ICRA to list on 13th April

Chances of Good listing for Orbit look bleak
Orbit Corporation is listing tomorrow on BSE. The company offered 91 Lac shares at Rs. 117 per share with one detachable equity warrant per equity share. The issue was subscribed 3.8 times. The company is in the business of redeveloping existing properties in Mumbai. The shares were offered at a PE of 25. Given the current listing trend for lesser known companies and construction stocks in particular, the listing is not expected to be a good one . Investment Guru expects the stock to list in the range of 115-125 and then settle in the range of 100-115.

ICRA Ltd. to list with fireworks on 13th April,2007
The story here is different. ICRA Ltd offered 25.81 Lac shares at Rs. 330 per share. The issue got overwhelming response and was subscribed 73 times with retail portion subscribed by 53 times. You can read more about the company in my earlier post. The stock was priced attractively as compared to its listed peer Crisil and hence the stock is expected to see a good listing. Investment Guru expects the stock to list in the range of Rs. 480 - 520 and then settle in the range of 450-480. Though the stock is a good candidate for long term hold, Investors can opt to book partial listing gains at a price above Rs. 500. Party time for all those who got allotment !