Adani Power IPO

For valuation judgement read: Should you buy Adani Power?
Personal disclaimer: I have applied for the IPO in retail category.
My view on the company is for long term, so I intend to hold it for >2 years. Adani Power is already over-subscribed by 7 times on day 3. However, the bulk of these bids are coming in from institution investors. The retail segment is still 50% undersubscribed. With the IPO coming to a close tomorrow, it is unlikely that retail segment will be over-subscribed. Hence, do not over bid in estimation of over-subscription. My target bids are 93 and 95. On the upper side, you can bid for 97, if you are desperate. I do not expect a huge gap up listing. Potential upside for gap up is 25% on listing if market conditions remain stable.

Another advise is to hold cash for applying in NHPC IPO which opens next week.