Lets have a brief look at the subscription status of the company.

Qualified Institutional Buyers (QIBs): 0.00 times
Non Institutional Investors: 0.22 times
Retail Individual Investors (RIIs): 4.38 times
Total Subscription: 1.57 times

The best part is the full subscription came from 🙂 RETAIL Investors or Insiders 🙂 – 4.38 times.

No institutional Investors.

The IPO price was 72.

The current market price is 165.

More then double ! with huge volumes but nominal delivery volumes.

The company compares itself to multinationals like BASF, Clariant and Pidilite with a turnover of roughly 50 odd crores ! and wants a p/e of 19 🙂 but that was at the issue price of 72 !!

The closest peer is Omkar Speciality which is a better company 🙂 coz the stock price is down 65% 🙂 and available at a p/e of 4.

Ideally the stock should be at sub 50 levels but stock has doubled or more at 165 + 🙂 will this be another bedmutha or thinksoft shekhawati or so on 🙂

The delivery volumes are almost greater then the issue size 🙂 which is just 12-15% of the total volumes. So speculation says the stock is doing 10 times the issued shares 🙂

Bottomlime – Avoid the stock ! But its fun to watch such moves in boring markets 🙂