My information is right. NSE website shows subscription at cut off price. And price set @ 46. so 9.15 times sub. + sub. @ rs. 47 and 46. Total sub. 10.36 times. After dis, including employee quota, one will get around 210 shares.
Hi guys, The news that Issue price will be at Rs 46 is now more or less authentic as it has appeared in economic times. Following is the link to the news article -
Also since its price is fixed at 46 even after getting subscribed 20 times, this places a lot of faith and trust in the promoters. This surely is a sign that the promoters wants people to make money out of it, so one can expect a good listing which could be anywhere around 55 to 60 Rs, and can stay there, not much correction in the price is expected from these levels now.
NEW DELHI: Gujarat Pipavav Port Ltd (GPPL), which got a robust response from investors to its Rs 500 crore IPO, is likely to fix the issue price at Rs 46 per share.
"The issue price of initial public offering is likely to be set at Rs 46 per equity. Investors will get the shares at a discount of Rs 2 apiece, as compared to the upper band of IPO price range," sources close to the issue told PTI today.
The issue, priced in the range of Rs 42 to Rs 48 a share, was open from August 23 to August 26.
The private port developer had roped in about 20 anchor investors, including the government of Singapore, HDFC MF and DSP Blackrock, to raise Rs 92 crore at a price of Rs 45 per share.
Marketmen were expecting that going by huge response, the IPO issue price would be fixed at the upper end of price range.
According to merchant bankers involved in the issue, the listing of GPPL may happen by mid-September.
The company had received an overwhelming response from investors -- retail, HNIs as well as institutional -- and was oversubscribed 19.46 times.
The issue was oversubscribed 9.15 times in the portion reserved for retail investors and 85.7 times in the high net- worth individuals category. In the portion reserved for the qualified institutional buyers, the issue was oversubscribed 13.2 times.
The company is primarily engaged in providing port handling and marine services for container, bulk and LPG cargo and is promoted by APM Terminals, which owns 57.9 per cent equity interest in the company.
GPPL is the developer and the operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. APM Terminals Pipavav is located in the Saurashtra region of Gujarat.
APM Terminals is a part of Denmark-based AP Moller-Maersk Group, one of the largest container terminal operators in the world with a global network of 49 terminals in 32 nations.
The company plans to utilise about Rs 300 crore from the IPO proceeds for prepayment of loans. It will also deploy the public issue proceeds for investment in capital expenditure and capital equipment.
Kotak Mahindra Capital Company and IDFC Capital were the book running lead managers to the issue and IDBI Capital was the co-book running lead manager.
I DONT KNOW ABOUT ANY BROKER WHO DOES IPO FUNDING EXCEPT ABOUT IDBI BANK WHERE RATE OF INTEREST IS LOWER BUT U HAVE TO OPEN DEEMAT IN IDBI BANK TO AVAIL THE FACILITY.
Dear Bhavik: Your information through your broker is not verifiable. According to official NSE website, the retail portion is subscribed 9.15 times. Add to that the unsubscribed portion of employees quota and deduct the price bids, the figure may be reduced 9 or below 9 times.Also, the issue price of Rs.46 appears unfeasible, because the anchor investors were alloted these shares @Rs.45. One can therefore presume that the issue price is likely to be 45 or lower than that.
Hi.. Information I provided is not frm any website or someone's comments. I collect all information frm one of the brokers of graymarket from Ahmedabad with whom I am working.
But I can assure U that imformation is 100% true n correct..
#786 (Bhavik): Could you please identify the source of your information saying retail portion oversubscribed 10.16 times and that the list price is Rs.46. Thanks.
SIR, IPO FUNDING KARTE HO AISE KISI BROKER'S KO JANTE HAI? MAINE ABHI PRABHUDAS LILADHER(MUMBAI) SE KAM KARTA HU JO IPO FUNDING NAHI KARTA....SIRJEE KOI FUNDING KARTA HO TO PLEASE REPLY KARNA SIR.......