No GMP, poor prospects for the real estate sector, and project concentration in MMR makes me wary of Rustomjee. However, I see a good management and business here. 88% fresh issue, decent valuation at forward PE of 43, and high post-IPO promoter holding of 88% gives me confidence to take risk. Applying for 1 retail lot via UPI and will accept mandate if QIB crosses 3x. There could be 5-10% listing pop if NIFTY stays above support level of 18300. Thanks.
Always in restraint of Mrs. Crow.