Brigade Hotel Ventures on Thursday, July 31, made its stock market debut on Dalal Street listing at both exchanges–the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company’s shares were issued at a price of Rs 90 per share.
On listing day, Thursday, the stock opened at Rs 81.10– down 9.88 per cent–on the National Stock Exchange (NSE) and Rs 82-down per cent–on the Bombay Stock Exchange (BSE).
The initial public offering (IPO) had oversubscribed, with an overall subscription of 476 per cent against the offer size of 4.83 crore shares.
Ahead of the listing, market expert Anil Singhvi had said the stock was expected to list around or slightly below the issue price. He also advised investors to consider buying after the listing rather than during the IPO. For short-term investors, he recommended using a proper stop-loss strategy.
The market guru noted that his team had previously advised investors to avoid subscribing to the IPO and instead consider entering the stock post-listing. For those looking at short-term opportunities, Singhvi recommended maintaining a suitable stop-loss to manage risk effectively.
(This story will be updated shortly.)
