The new kid on the block today is Khadim India. The stock, which had issued its shares at Rs.750 in the IPO, got listed on the BSE at Rs.727; a discount of over 3%.

The IPO was subscribed 1.90 times. The QIB portion was subscribed 2.45 times and retail by a good 2.33 times; however the HNIs portion was subscribed only 0.18 times.

In our New Issue Analysis section, we had given it a thumbs up as fundamentally we found it on a solid footing. We had said, “Consumer brand posting profitable growth with deepening distribution reach, strong balance sheet position and healthy pricing get a thumps-up, making the IPO a subscribe.”

In the IPOs of recent times, more than the listing gains, we need to look at the long term sustainability and Khadim is a long term stock.