You said there is a grey market premium of Rs.150 for this issue. This sounds illogical since any body can purchase at rs.950/- which is only rs.50 /- premium
icici oversubscribed 11.57 times . hope retailers will get the shares .
investors need to keep the shares for 6 months atleast because banking counter will not move quickly till the interest rate will be decreased . once the rate decreased it will touch all new high .
Dear Vella Its not investors who has taken the price to 964...there are agent of ICICI Bank who is buying the share at that price..so people get interested in the FPO and issue gets oversubscribed.
I do not understand the logic of the investors who is buying ICICI bank shares from the secondary market @ Rs. 964/- (today), when they can apply and get 108 shares from the IPO issue. Since it is a big issue, everybody will get the applied shares max. of 108. So it means that some institutional players (and not individuals, mind you)are increasing the price of the shares in the market (now) so that everybody goes on applying ! See the price of the share after 1 week from today. It will surely go back to Rs. 850/-, where it belongs ! On listing day, they may manipulate the price again. But watch the market, as soon as your issue price is covered, sell your shares like a hotdog. Good luck to you all investors.
Today is the last day for ICICI FPO and I have a feeling that this stock will go back to Rs. 900 level by the time FPO shares list in the secondary market...
If one goes by the "advices" of these advisers, one will be broke in no time. Make calculations, and use your judgment. Be wary of speculations and phony advices. You may make some gains a limited number of times, but in the long run, you will be fleeced.