Most of the domestic brokerages have recommended subscribing the issue with a long-term perspective.
By ET Bureau | Updated:
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Most of the domestic brokerages have recommended subscribing the issue with a long-term perspective.
The Rs 1,734-crore initial public offering (IPO) by Jaipur-based Aavas Financiers will close on Thursday. The housing finance company, which has priced the issue at Rs 818-821, has already raised about Rs 520 crore from 34 anchor investors including Abu Dhabi Investment Authority, Kuwait Investment Authority, Nomura, HSBC Halbis, Morgan Stanley, SBI MF, ICICI Prudential MF, Reliance MF, Birla MF, Kotak MF, DSP MF, IDFC MF, Sundaram MF, Edelweiss MF and IIFL MF among others.
Most of the domestic brokerages have recommended subscribing the issue with a long-term perspective as they believe asking valuations and shortterm concerns over the NBFC space may leave little upside for short-term traders.
