So in a half day period (~8 Crores shares sold (Out of 14Crore Issue size) giving losses close to INR 240 Crores in a matter of few hours.
Disappointed with ICICI for duping gullible retail investors by selling the issue at exorbitant prices.
Despite caution from n number of wise people on this forum, there are lot many opted to subscribe. Hopefully this will be a lesson for all of those not only to go by brand name and fundamentals but also look at the price factor.
The government will sell 7% stake in Hindustan Copper as a part of this year’s disinvestment programme. The share sale will be done through the so-called offer for sale (OFS) route on Thursday at a base price of Rs 62 per share, five per cent discount to current market rate. Shares of Hindustan Copper on Wednesday closed at Rs 65.35 on the BSE.
A total of 64.76 million shares have been put on the block, a fifth of which will be reserved for retail investors. Retail bidding will take place on Friday and those applying in the retail segment (up to Rs 2,00,000) will be offered a 5% discount on the allotment price.
The sale is part of the government''s asset sale plan to raise funds to help plug its deficit. For the year to March 2017, it plans to raise Rs 56,500 crore from such sales.