Stocks to watch on August 16, 2023: Shares of IndiGo are likely to be in focus amid reports of a likely stake sale by the co-founders Gangwal family on Wednesday.
The drone manufacturer launched its initial public offering (IPO) in June this year at a 94 per cent premium to the issue price of Rs 638 to Rs 672
The stock was quoting lower for the sixth straight day, falling 13 per cent during the period
Most of these offers are coming right now because their regulatory deadlines, to bring the IPOs, are about to lapse, cautioned analysts
The drone developed by the company was featured in the Bollywood blockbuster 3 Idiots in 2009
Post listing, the market price of the company doubled against its issue price of Rs 672, hitting an intra-day high of Rs 1,344 on the BSE