Most brokerages held the view that market would continue to present stock-specific opportunities.
Equity benchmarks BSE Sensex and NSE Nifty slipped for the fifth straight session on Monday.
The company had fixed issue price at Rs 250, upper end of the IPO prices band at Rs 245-250.
Market will look for more cues from the govt on stimulus program and road map on fiscal deficit.
Sustained selling by FIIs and a sharp fall in the rupee dragged stocks lower on Friday.
As many as 47 stocks in the Nifty index closed in red with Hindalco falling 4.97 per cent.
The ongoing outflows of foreign portfolio investment weighed on market sentiment.
Among the top gainers, HEG and Graphite India have soared 522% and 409% respectively.
As many as 31 stocks in the Nifty index closed in the red, with BPCL falling 2.45 per cent.
10 more IPOs are lined up for next 6 months, with issues from a wide range of businesses.
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