Dear Tin See the subscription of Qib at 2 pm. If Qib portion is subscribed above 15 times means then it will ok. No need to cancel. Otherwise you cancel it.
The major reason for this highly priced IPO seems to be, to avoid the the LTGC tax. Being in the trading business it should have known that subscription will be difficult in such volatile market, but it still went ahead.
Incidentally the same LTGC tax has hit market sentiments, & has tempered investor expectations & motivation to invest in risky avenues like equities. This will certainly hit future businesses of ICICI direct et al.
An under subscription shall leave a long standing impression on this stock. More over even Reliance Nippon is also close to its listing price since long. An absolute disappointment from the ICICI stable because of the pricing. Even for those who are looking forward to a long term play, the pricing has let the issue down. A strong lesson for companies coming with IPO's as well as IPO enthusiasts. A late surge shall only show opportunism not fundamentals.