Kamo Paints corrected sharply in last one month but now near contra zone of bounce,support 24.15-20.79 on dips.Fibo zone.Keep an eye

(Please note that stock in strong downtrend so just keeping it as contra view only)

Why Hyundai’s promoters are coming up with the IPO that is largest ever in Indian history?

Ans: to take back home more than $3 billion. This is hundred percent offer for sale issue.
They are not raising any money for expansion or for working capital requirement.
Promoters are simply diluting their stake.

They are raising almost $1 billion from anchor investors and these anchor investors have lock-in period of 30 days for 50% holding and 90 days for rest 50% holding.

So this was the one part of the story.

Next part is that they are bringing the IPO at reasonable PE ratio that is 26, which is the moderate one, not very expensive.

Now in this scenario, when IPO is coming at a reasonable valuation, but this is only an offer for sale, means promoters are coming up with the IPO just to take money home and not for expansion or business need, then there are fair chances that anchor investors would be exiting whenever their lock-in period end.

Shared few important points with you.