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Friday, December 19, 2014

Monte Carlo IPO disappoints the retail investors

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.

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