It seems, market did not pay premium on the re-rating prospects of Monte Carlo's future foray into e-retailing and as a result its share was listed at Rs. 584 on NSE at a discount of 9.5 % to its issue price of Rs. 645. The valuations of this IPO were already stretched and the only hope for listing gains was based on its future foray into B2C business.
I did not get allotment in this issue. besides overall market sentiment,the future of Monte carlo shares will depend on how well this company will be performing in e-retailing. By going public, this company has already removed the obstacles of FDI norms that were preventing its entry into B2C business.
I did not get allotment in this issue. besides overall market sentiment,the future of Monte carlo shares will depend on how well this company will be performing in e-retailing. By going public, this company has already removed the obstacles of FDI norms that were preventing its entry into B2C business.
