Engineers India Ltd FPO Message Board (Page 42)

ENGINEERS INDIA LIMITED - NSE Bid Details                        
Updated as on 30 July 2010 at 1300 hrs                        
Sr.No.      Category      No.of shares offered/reserved      No. of shares bid for      No. of times of total meant for the category
1      Qualified Institutional Buyers (QIBs)       16490830      320194460      19.42
1(a)      Foreign Institutional Investors (FIIs)            215839040      
1(b)      Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)            85112080      
1(c)      Mutual Funds            17878860      
1(d)      Others            1364480      
2      Non Institutional Investors      4947249      3445440      0.70
2(a)      Corporates            1311540      
2(b)      Individuals (Other than RIIs)            1730900      
2(c)      Others            403000      
3      Retail Individual Investors (RIIs)      11543581      7479160      0.65
3(a)      Cut Off            4594360      
3(b)      Price Bids             2884800      
4      Employee Reservation      712000      126060      0.18
4(a)      Cut Off            125980      
4(b)      Price Bids             80      

Dear MAJID, how can i apply against employee quota ??

RET SUBSCRIPTION 1.07 TIMES @ 1PM
INVESTOR CAN APPLY FOR 340 SHARES FOR LISTING GAIN.

@178
It's not increasing because as per new norms QIB portion is closed for subscription yesterday.

I have put my application against employee quota. Can I apply through retail quota? Please suggest quickly since ICICIDIRECT.COM will close at 3PM.

Retail 0.83x at 1 pm

Regards

Dear nse-ipo-current ipo-nse-bse demand graph

Dear aaj kisi bhi FII ya mutual funds ne paisa nahi lagaya h abhi tak retailer ne hi lagaya h
Isse door hi rahe to hi acchha h dear varna mare jaoge
vaise 1.5 times se jyada retail nahi hone wala h

Dear Boarders, This issue looks reasonably priced in the current Indian market context, however expensive in the global context. I will try to broach on some points not covered by others.
It’s and EPC company and competes locally and internationally with companies from Japan, Korea, Australia, UK, France, Germany & US (JGC, Chioyda, MHI, Toyo, SHI, Daelim, HHI, WorleyParsons, Bechtel, Fluor Corp, Foster Wheeler, CTCI, Sinopec, Technip, Linde) Bechtel is the largest and is privately held. Generally the companies are available 10-15X forward PE multiples.
The key for this industry is to have matured processes and systems, and a good talent pool. India is a hub of detailed engineering design. Most of international EPC companies have large offices in India, and are constantly poaching talent from EIL offering postings in India and overseas. In-spite of India having a large number of engineering graduates there is a huge shortage of engineers, procurement specialists & construction planners & supervisors with 10+ years of experience in core engineering. A lot of best engineering graduates pursue management, finance, IT and civil services rather than their core discipline.
It seems to me that EIL will experience modest growth. At this price the stock can give low to moderate returns with limited downside risk. I plan to put in one application.

@174.ds

kindly let me know, where we can see current subscription details of any ipo...

Dear Gem,Sreedhar, Ravi

What is expected RETAIL subscription in EIL.

Regards,
Vishal

RETAIL .66 TIMES AT 12=30HRS

Friends,

What is expected subscription of EIL in retail. I believe it will not cross 1400 Crore ( approx 5 times )

Regards,
Vishal

What is the current retail subscription...

DEAR RENU,U R QUITE RIGHT ,..RETAIL INVESTOR IS GETTING 5% DISCOUNT THAT MEANS 14/50..WHICH IS REALLY GOOD THING FOR RETAIL INVESTOR..IT WILL BE SUB. BY 3 TIMES IN RETAIL.. BE HAPPY ..

KKD - There is no way you can get this at 270. If you see nse bse demand graph on nse site, total demand at 290 is 39.11 crores and at 270 it is 39.78 crores and issue size is 3.36 crores. By 11 am issue is subscribed 10 times at 290 price and there is no way book will discovered at 270. I think there is a very safe margin for retail investors at 275. stock has only corrected 1.5% today and such volatality is expected in any stock.

KKD - Very good analysis and info for ppl like us who dont know anything in IPO mkt. But want to participate nevertheless and try our luck. I will stay away from this IPO based on your call

QIB appetite for EIL is overwhelming but most of the bids are at or around lower levels of price band as can be seen from NSE data. Though these figures augur well but the confidence of public has been shaken by post issue performance of FPO's in the past. In the recent past only REC has given decent returns or for that matter positive returns otherwise all FPO's have only eaten into money of investors. REC had valid reasons formost being availability in the F&O which is not the case in this issue. Further, it does not have peer group to compare valuations and closet peer group in the category ( not strictly) is L&T and Alstom. At FY 11 estimates, it is commanding nearly the same valuation as that of thse companies which cannot be justified for a PSU. I feel the current price will fall drastically just before listing of FPO and will come at or below offer price to retail hence unlikely to give any meaningful returns on listing. Why take such a huge risk for just 10% maximum return yhat people are expecting upon listing. As far as retail subscription is concerned, looking at the low level of confidence in govt issues in public it can get levels of 1.25 - 1.5 times. My advice to public is to either avoid or go at the lowest price band which will force govt to fix lowest price. There is some chance of Rs.10-15 gain if public gets shares at 257/- after discount, anything above that will be bit risky.

As regards, SKS issue the promoters and selling share holders have priced issue steeply that only shows their greed. I recall Biyani of Pantaloon came out with his Future Capital IPO alongwith RPower at 800/- levels and see the current price of Future Capital. It may give 10-15% appreciation because of fancyness but incase the market falls drastically (even 7-10% drop) before listing of the issue it is damn sure that investors will lose heavily. By not subscribing you can give signal to the prospective issuers to price the issues at reasonable levels and not take public money for granted.

Rest is wish of the public and I would like to see the fate of these two issues with bated breath upon listing after a fortnight.

EIL retail subscription please....................

Retail - 41%