Indian markets see a blockbuster debut, 3 tepid ones

Windlas Biotech

16/08/2021 08:13

** Shares of Yum Brands' largest Indian franchisee  DEVY.NS 
opened at 140.90 rupees on the exchange, an over 56% premium to
its issue price
    ** Shares of radiology services provider  KRSN.NS  debuted
at 1,005.55 rupees, only ~7% premium from price band of 933-954
rupees/share
    ** Ayurvedic products maker's shares  WINL.NS  saw a 5%
discount to its issue price as it opened at 437 rupees
    ** Shares of tile manufacturer  EXXA.NS  debuted at 126
rupees, slightly above the issue price of 120 rupees/share
    ** Devyani International, which operates KFC, Pizza Hut and
Costa Coffee in the country, expects to repay its debts with the
IPO proceeds
    ** We believe Devyani international remains well placed for
long term growth - Anand Rathi Research 
    ** Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles rose
as much as 9.4%, 3.4% and 5%, respectively
    ** Analysts at Motilal Oswal Financial Services said that
midcaps and smallcaps are currently facing selling pressure and
IPOs with a not so good track record and weak financials are
getting lukewarm response
    ** These IPOs come in after food delivery giant Zomato's
stellar debut last month where it surged 65.8%, gaining a
valuation of 988.49 billion rupees ($13.32 billion)


($1 = 74.1980 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))