Total Issue Size 631636440 Total Bids Received 7486416375 Total Bids Received at Cut-off Price 179555625 No. of times issue is subscribed 11.85 marengee sale sab ke sab
I have already made a posting no.525 even before most brokerage reports had come.
why shouldn't Coal India trade at a premium when compared to global peers leave alone a discount:
-lowest cost producer -capacity equal to the 2nd and 3rd largest -demand outstrips supply for the next decade -co once listed helps the govt in pushing thro reforms -increase in operational efficiences on listing -huge potential as more washeries go into production
This share should atleast triple in 7 years and can only get better if the % of sale in open auction which is presently only 10% increases.
Given the QIB response the share should also give listing gains.
As per NSE 20 hours: NSE/BSE demand: Bids at cutoff: 179555625 Price bids NSE only(BSE not available): 20670200 So, total: 200225825 Reserved for retail: 198965479
Hence, it is at least more than 100% by now in Retail.
The issue is good for a listing gain of 5-6000 per application. so do not think much and blindly apply. Think for long term in private sector where you can make much more.
In my view Coal India listing would be above Rs. 250 If it stays above Rs. 250 level for more than 10 minutes It might touch Rs. 275/- otherwise sell Buy at lower level