The maga IPO which was being awaited all these days with so much euphoria got finally listed in the markets today at RS 525 against the offer price of Rs450/share getting a premium of just Rs 75 even below the expectations.And within moments it has slipped below its offer price of Rs 450 and was trading at Rs 425-430 range.
The reason is very clear.The markets are trading down by 175 points at this point of time and general mood of the investors seems to be low .I have brought a complete description of this listing before and also where to check the allotment status before.
Analyst are of the view that if this script is held for another 12-18 months it can give some attractive returns like other Reliance pack shares.So if you are long term investor it is advised to hold on at this point of time.
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