Prince Pipes & Fittings IPO got listed today at the NSE (National Stock Exchange) with a tepid 10 per cent discount at Rs 160 per stock levels. According to the stock market experts, Prince Pipes & Fittings listing has been on expected lines. however, notably, they have maintained that the valuation of Prince Pipes & Fittings is still attractive, albeit they have doubts over its corporate governance standards and dubbed it one of the major reasons for the listing of Prince Pipes & Fittings at the discounted rate.

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Speaking on Prince Pipes IPO listing, Santosh Meena, Senior Analyst at TradingBells said, "On the expected line, Prince Pipes debut on the secondary market was with a 10% discount to its issue price. It looks attractive by its valuation but there is a question mark on its corporate governance. There are concerns regarding related party transactions and pledging of promoter's shares. Investors are advised to avoid this stock and look for other quality stocks in the same space."

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Prince Pipes & Fittings IPO was available for subscription from 18th December to 21st December and the majority of the share market experts had given 'subscribe' call on Prince Pipes & Fittings IPO. However, at the time of writing this news at 1:10 PM, Prince Pipes & Fittings share price was at Rs 169.55 per share levels — which is still near 5 per cent below its issue price of Rs 177-178.

Prince Pipes & Fittings IPO was expected to perform well as share market experts were bullish about its attractive valuation. Their bullish can get a boost from the recent listing of IPOs like IRCTC, CSB Bank, Ujjivan Small Finance Bank which have done exceedingly well. They were anticipating the same IPO sentiment to continue in Prince Pipes & Fittings, which didn't happen.