Real estate player, Godrej Properties enters capital markets today with an initial public offering (IPO) of 9.40 million shares at a price of Rs 10 each. Its price band is at Rs 490-530 a share. The issue will end on Dec. 11, 2009.1) Angel Broking:
The brokerage house has maintained a `Neutral` view on the IPO and feels the IPO is fairly priced.
The brokerage house feels the IPO is good bet for long term investors.
3) S P Tulsian:
Issue is steeply priced and much better plays are available in the secondary market and our advice is to give a skip to the issue.
4) Bonanza Portfolio:
The brokerage house feels that the IPO is asking too much for `Godrej` Brand. However, it feels that the IPO can be opted for listing gains.
5) KC Securities:
The brokerage house has recommended an `AVOID` to the issue. The justifications given are as under:
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