Market debut: Chemplast Sanmar falls after opening up, Aptus Value Housing Finance down

Chemplast Sanmar

24/08/2021 08:10

** Shares of Aptus Value Housing Finance India Ltd  APTS.NS 
fall more than 5% in its market debut; chemical co Chemplast
Sanmar Ltd  CHPA.NS  also slides 5% after listing at a premium
    ** CHPA opened at 550 rupees vs issue price of 541 rupees
    ** Negative net asset value keeps us cautious about
Chemplast from a longer term perspective — Saurabh Joshi at
Marwadi Shares and Finance Ltd
    ** CHPA's 38.5 bln rupees ($519.24 mln) IPO saw a tepid
response; it was oversubscribed 2 times
    ** APTS listed at 333 rupees, lower than its issue price of
353 rupees
    ** Co's IPO, which included a fresh issue of up to 5 bln
rupees, was oversubscribed 17.20 times
    ** APTS's presence in large underpenetrated markets have
strong growth potential and favourable valuation provides a
great opportunity to long-term investors to buy and hold the
stock for long-term investment - Joshi 
    ** Several Indian companies have tapped capital markets this
year in a fund-raising frenzy driven by abundant liquidity and
record-high stock markets

($1 = 74.1470 Indian rupees)

 (Reporting by Rama Venkat and Nallur Sethuraman in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))