*GALAXY SURFACTANTS LTD IPO* *1ST DAY SUBS.FIGURE AT 05:16 P.M.* QIB 2.71X** NII 0.01X RII 0.44X TOTAL 1.00X **Excluding Anchor Total No.of FORMS : 71,599 *Apps Wise : 0.32X*
despite lukewarm responses from RII and HNI on day one Galaxy manages one time subscription Thanks to QIB category which is subscribed 2.71 times manages to scrape through this time ?
123. jajo| Link| Bookmark|
January 29, 2018 1:39:51 PM
Top Contributor (300+ Posts, 200+ Likes)
I am surprised that few people are bracketing Galaxy in the category of FMCG companies where the PEs are high due to their superior quality and earning visibility. Galaxy is merely a bulk supplier of low margin specialty chemicals and surfactants as intermediate raw materials to these FMCG companies, Why one should buy the IPO at high price rather than directly invest in pure FMCG companies like HUL, Dabur, Goodrej Consu, colgate etc ? IMO the company is taking advantage of the all time high secondary market sentiments by fixing the IPO price at 1480
Almost all IPO are richly valued. Still they are fully subscribed and successful bidders have made short term gains or short term losses. That is what market is all about. No gains without pain. With your logic primary market punters are fools. Totally unrealistic because secondary market also is equally risky. If one wants to play safe ,then your reward also will be low. At Rs.15000 a lot your risk is low but your reward can be high. That is why people apply in IPO and hope for the best as no expert can predict listing price with 100 percent accuracy.Or for that matter pick a FMCG stock which is a sure shot winner. .
123.2. jajo| Link| Bookmark|
January 29, 2018 4:47:29 PM
Top Contributor (300+ Posts, 200+ Likes)
Chitra mam, Yes I agree with you that of late the retail IPO Subscribers have become mere speculators for immediate short term profits. It seems that all serious investors are keeping a low profile due to steep IPO valuations. It''s high time some rules for IPO valuations are formulated by SEBI and Lead managers.
*GALAXY SURFACTANTS LTD IPO* *1ST DAY SUBS.FIGURE AT 03:15 P.M.* QIB 0.48X** NII 0.01X RII 0.24X TOTAL 0.26X **Excluding Anchor Total No.of FORMS : 35,639 *Apps Wise : 0.16X*
*GALAXY SURFACTANTS LTD IPO* *1ST DAY SUBS.FIGURE AT 02:00 P.M.* QIB 0.00X** NII 0.01X RII 0.19X TOTAL 0.10X **Excluding Anchor Total No.of FORMS : 27,665 *Apps Wise : 0.12X*
State-owned RITES has filed draft papers with markets regulator Sebi to raise an estimated Rs 600 crore through an initial share sale.
Incorporated by the railways ministry, the company provides transport consultancy and engineering services.
The initial public offer (IPO) will see sale of 2.4 crore equity shares, amounting to 12 per cent, by the promoter, according to the draft red herring prospectus (DRHP) filed with Sebi.
114.1. T.agarwal| Link| Bookmark|
January 29, 2018 11:39:55 AM
IPO Mentor (800+ Posts, 1800+ Likes)
RITES Ltd., a Government of India Enterprise was established in 1974, under the aegis of Indian Railways. RITES is incorporated in India as a Public Limited Company under the Companies Act, 1956 and is governed by a Board of Directors which includes persons of eminence from various sectors of engineering and management. RITES Ltd., an ISO 9001:2008 company, is a multi-disciplinary consultancy organization in the fields of transport, infrastructure and related technologies
113. Mogambo| Link| Bookmark|
January 29, 2018 10:30:46 AM
(1300+ Posts, 3200+ Likes)