BackSamhi Hotels IPO: Shares make positive debut on Dalal Street. Should you buy, sell or hold?
Samhi Hotels share price opened on BSE at ₹130.55 apiece whereas it listed at ₹134.50 per share levels on NSE
PremiumStock market today: Samhi Hotels share price opned higher from price band of ₹119 to ₹126 per equity share. Shares of the company listed on BSE at ₹130.55 apiece levels whereas it listed on NSE at ₹134.50 per share levels, delivering to the tune of 6 per cent listing gain to the lucky allottees.
According to stock market experts, Samhi Hotels share price opned on positive note despite weak sentiments on Dalal Street. They said that Samhi Hotels is a loss making company and hence this positive listing is little bit surprising.
Samhi Hotels share price outlook
Speaking on Samhi Hotels IPO listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Samhi Hotels shares have listed at around 6 per cent premium which is better-then-expected. The company is a loss making company and the public issue was priced at high valuations as well. So, my advice to allottees is to book profit and exit as profit booking may trigger any time in the scrip."
Echoing with Avinash Gorakshkar's views, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Samhi Hotels share listed above upper price band despite sell off on Dalal Street. However, there can sharp downside in the scrip once there is profit booking trigger. The company's balance sheet is looking tepid as it is a loss making company. So, one should book whatever profit they are getting on one's investment and look at other better options available in the markets."
The Gurguram-based company had proposed in its Red Herring Prospectus (RHP) to utilise net proceeds of the fresh issue towards payment of debt and for general corporate purposes. The public issue was worth ₹1,370.10 crore out of which ₹170.10 crore was expected through offer for sale (OFS) route.
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.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
