Interesting anchor book - almost 70% taken by all top domestic MFs. Top sovereign funds - Abu Dhabi Investment Authority, Norges Bank, Canadian Public Sector Pension Investment Board Select blue-chip FIIs - Goldman Sachs, Theleme, Segantii
Takeaway - Seems domestic MFs are back big time, while insurers have started applying less. Also saw this to some extent in Global Health (where 40% anchor was taken by top MFs)
31. Chem cho| Link| Bookmark|
October 31, 2022 5:33:05 PM
IPO Guru (2600+ Posts, 2700+ Likes)
In any good Ipo with more than 1x subscription i dont expect allotment when registrar is linkintime. I will always have to apply in undersubscribes, risky issues and get allotment and listing day loss.
Company commands leadership position. Sizeable export (100% industries salts) having long term relationships with customers. Ongoing downstream expansion will benefit. Further capex planned though not from fresh issue proceeds but internal accruals. Current debt level is high but should be reasonable after repayment of NCD's. Asking valuation looks reasonable. Do monitor related party transactions post-listing. Acume Chemicals 90% productions already have a buyer. Overall, I find this very attractive IPO considering everything.
Remember that last six IPOs, all got launched at high valuations, and got manipulated. Those who invested on the listing Day - all got into LOSS... Better stay away from all the new IPOs, these are over valued bubbles.