My view on Adani Power IPO was cautious and as the IPO got listed today the market also had the same idea. The listed price of Adani Power was 105 ( as I could see ) and it traded most of the time close to 100 and for quite some time even below the issue price of 100 Rs.
Market is not weak today and so weak opening for the listing suggests that market is not in a mood to buy on stories and companies who can make money some years from now but are more keen on companies who are making money.
IPO’s and NFO’s take few days to list and market condition and volatility suggest we should avoid them because IPO’s are never for investing. Just trading and flipping is far better option in IPOs. If you would like to invest in Adani Power then my view would be wait for couple of week and I am sure it would be available quite cheap then what it is today.