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IPO watch: Complete Circle’s Gurmeet Chadha assesses the debutants

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Four fresh initial public offerings (IPOs) hit the market this week and they will collectively raise around Rs 9,100 crore. Shyam Metalics and Sona Comstar opened for subscription on Monday, and Krishna Institute of Medical Sciences and Dodla Dairy will also open in the next few days. Gurmeet Chadha, Co-Founder and CEO at Complete Circle Consultants, shared his assessment.

Four fresh initial public offerings (IPOs) hit the market this week and they will collectively raise around Rs 9,100 crore. Shyam Metalics and Sona Comstar opened for subscription on Monday, and Krishna Institute of Medical Sciences and Dodla Dairy will also open in the next few days. Gurmeet Chadha, Co-Founder and CEO at Complete Circle Consultants, shared his assessment.
“If you have a clear view that electrification is going to be the future, Sona Comstar could be the one,” he said.
“You need to have a long-term view, and maybe build over it over a period of time. The environment is such that the listing is likely to be good. We need to have a more staggered buying approach over the long-term,” he added.
When asked for his order of priority among these four IPOs, he replied, “For long-term, it would be Sona Comstar. Whenever you go for an IPO, you are either on the long side or on the tactical or listing side – tactically speaking, Shyam Metalics looks good if you want to play the larger side.”
On Krishna Institute of Medical Sciences, he shared, “Being a regional player, it gives you a lot of strength in terms of the retention as far as the doctors and staff go, but hospital is a very gruesome business, it is a long cycle, and you need a player that has better agile formats – it should be like a capital goods stock in a healthcare sector. So, I agree health infra will go up. I think better opportunities will come in APIs, in diagnostics, even in some of the medical devices and equipment players.”
For the full interview, watch the accompanying video.

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