@vvs Here are the general rules for primary market.
1. If demand is there then its there and we have to accept it. Many people didn't apply due to fear of market and decreasing GMP which is okay as well. It depends what type of investor you are and how much risk/profit you need.
2. Broker response is good currently and that's the reality but you need to understand people are talking about 1 % to 7-8% GMP which is quite fair because initial GMP was 27%. We have seen IPOs with opening 100% premium right? Was everything good for those? Ofcourse no but it happens in the share market where we say hype or over-valuation or under-valuation. Many time, you would have seen, GMP remains 1-2% and opens at 20% up. Was we aware?
3. When demand is there then nobody cares about business, company and stock price. People jumps-in and jumps out according to their convenience!
4. People feared by saying Divi is entering, does that mean no-one will invest in Blue Jet? Nope, subki dukan chalti hai! And, if it has some unique product and exporting to Europe then its true. Future no-one knows, everything is speculations and prediction especially in primary market. As far as secondary market is concerned, stock price stabilizes, shows business revenue, profit/loss, chart gets prepared etc and more stable till another quarterly result comes :)