Wow guys...look at the bidding figures above. See how people are mad for IPOs.
Even though it’s a small issue, this kind of oversubscription is unbelievable…123 times retail and on the top of that 278 times non institutional investors...Its hard to believe.
Only few lucky guys will get allotment and they will make good money as premium would be more then 300%....wow…I am waiting for listing day for this share…you will see lot of firework on that day :)
Vikas you are right. say if the price is fixed at 170. bids received at 170 and above(cut off) will be considered for alotment,which will be no less that 100 times of subscription
Absolutely correct harmeet!!! For these type of heavily subscribed IPO there is no point blockin the entire amount of 1 lakh. Moreover the allotment to everyone in retail irrespective of the number of lots they applied would be just one lot at the max.
the number of times this issue is over-subscribed also bids those bids, which are not for the cut-off price. means for less than 140 rupees. so suppose if the issue price is decided to be 140 those bids are automatically canceled. so the chance of getting the allotment will increase.
I applied for just 3 lots if I am lucky I will get the allotment . Guys all we need for this IPo is the luck because allotment will done through lottery. Inthat case even whohad applied for 700 shares will not get any allotment and person who is lucky will get allotment on one lot application . I am right guys . So believe in your luck