Caliber Mining shares drop 8% after listing with 19% premium over IPO price. Should you buy, sell or hold?

Caliber Mining and Logistics debuted on the BSE at Rs 504, an 18.87 percent premium over the IPO price of Rs 424, after the Rs 450 crore issue was subscribed nearly 147 times. The stock briefly touched an intraday high of Rs 508 before reversing to a low of Rs 463.15, ending about 8 percent below the opening price though still around 9 percent above the issue price. Experts advised new investors to wait for a dip or consolidation before entering, with a suggested stop-loss of Rs 475 for existing allottees.