Can anybody advice on the price fixed for Electrosteel. Secondly, as I have applied @ Rs. 10 (lower band), if the price decided by the company is higher, when will I get my refund as my application will get rejected. Thanks in advance for your reply. Dhruv
307. aRYANrAJ| Link| Bookmark|
September 29, 2010 10:48:20 AM
Top Contributor (600+ Posts, 100+ Likes)
@ 302. Anonymous
Haha. Yes you are right. Just like ESL and it's sister co SCL share holders should become long term. Not long, Long longer longest term. They don't even have iron-ore to start Jharkhand's project and they are long terming from 2 years now transfered losses uptill now 2000 crs to ipo greedy people. sit for long term and wait to get iron-ore, starting that project and making money. a 4800 cr project now counts 7000 crs and in long term it'll surely become 20000 crs project cos of long term. LOL (sorry Sj, used your copyright LOLLLL)
those who hve applied in it , they know that it's a long term story & most of them hve not applied for listing gain.....so, there will not much selling pressure.....
& other point is , traders who watch new listed share @ such low price , will buy it to trade in it & also some QIBS & HNI who didn't get enough share due to oversubscription.....
305. aRYANrAJ| Link| Bookmark|
September 29, 2010 10:36:13 AM
Top Contributor (600+ Posts, 100+ Likes)
Yehi to problem hai that you guys look at gmp. sea tv is cable wala in agra who has file dusting in ministry of information and broadcasting from 4 years to start a religious channel and it's gmp is 25%. i can say same about sea tv that it's premium is going up everyday. but just answer 1 question, will you yourself buy electrosteel at 11.75 stated in your premium? will you buy sea tv for investment at 115? won't every allotee and even this had greenshoe that is promoter will give thier quota if shares demand are high by retailers will sit on listing day to make quick 1.75? than who will buy?
that premium was manipulated by promoter & that was before issue close..... after indosolar's issue close , gmp fall drastically..... that shows manipulation.....
but in case of electrosteel , gmp is gaining after issue close.... when issue was open it's gmp was only .75 paisa & now it's gaining gradually..... means it's genuiene demand rather than manipulation.....
It may first go to 40+ on listing coz this is bull market
No body sees valuation in Bull market
It can be possible that then it may go down close to its book value that is a range of 15-20 rupees just like some other solar energy IPO that had hit recently in markets the name of which i do not remember.
On the other hand
XL TELECOM AND ENERGY IS UP 40% SINCE LAST WEEK AND MOSER BAER IS UP 25% SINCE ONE MONTH LOWS
i WONDER WHAT IS THE LOGIC OF PEOPLE APPLYING FOR INDO SOLAR
When better opportunities are available on stock exchanges in solar space..?
I dont think Indo solar will give 30-40% listing gain although not a bad company
Only pricing is Bad
ANyways SOLAR ENERGY IS THE FUTURE
WHY DOES ANY ONE WANT TO RISK IT FOR SHORT TERM
WHEN MOSER BAER IS ONLY NOW MOVING AFTER BEING UNDERPERFORMER TILL NOW
Anyways these were just my views
Best of luck to other boarders who applied for INDOSOLAR
May you get good listing gains
But please dont be greedy and sell it if you get 10-20% gains
The Electrosteel Steels is a good issue. The promoters have left something for the prospective shareholders. QIBs have oversubscribed the issue to the extent of 6 times and the same is the case with Retail Investors. Perhaps, one needs to hold it for considerable period of time to get the real gains.
who is saying that steel companies are underperforming, see tata steel, hindalco, jsw steel all are hitting new high. even ispat is also hitting new highs. so confirm news electrosteel will touch 21 in within a week of listing Iyappan
Please correct ur analysis first it has been alloteted to prmoters at 10 rs and 10.75 rs respectively and not 13 rs.
it is large issue of 250 crore and not much interest from qib. it will have huge selling on day 1 and will drop below 8 rs with no buyers. mark my words it will be available between 6-8 rs in few days after listing