Aban Holdings IPO listing date today. Experts see ‘muted’ debut of shares

Aban Holdings IPO listing date today. Experts see ‘muted’ debut of shares

Market


Aban Holdings IPO: Shares of Aban Holdings Limited are going to list on Indian bourses today. As per the information available on BSE website, effective from Friday, December 23, 2022, the equity shares of Abans Holdings Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ group of securities. Aban Holdings shares will become available for trade in special pre open session today.

According to stock market experts, the public issue failed to catch attraction of investors and current market sentiments are also not in favour of the public issue. They said that the stock may have a muted or discounted listing as Dalal Street sentiments have remained bearish for last three sessions.

Speaking on Aban Holdings share listing, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “It is the financial services arm of the Abans Group, and it operates a diversified global financial services business. The company has an integrated financial services platform and strong human capital. It has global exposure, provides innovative financial products, and also has a strong relationship with clients. However, while the company’s revenue has declined recently, it has also reported negative cash flow in the past. Secondly, it is a holding company that is dependent on its 17 subsidiaries and operates in a highly competitive market. Also, an IPO allocation of just 10% for QIBs is a big concern. Though the issue has a P/E valuation of 20.19, which is in line with its peers, looking at the majority of negative factors.”

Expecting muted to discounted listing of Aban Holdings shares, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “The public issue received tepid response from investors in all segments. So, its last hope was hanging on the market sentiments on the listing date. As Dalal Street has been under the grip of bears, we are expecting muted to discounted listing of Aban Holdings shares.”

What Aban Holdings IPO GMP signals

According to market observers, shares of Aban Holdings Ltd are available at a premium of 5 that means grey market is expecting that Aban Holdings shares may open at around 275 apiece.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.


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