The more people that withdraw their applications the better allotment for the rest of the investors :) :) :) The Bangalore land is in any case a very small piece of land which I feel the company has defended sufficiently.
Friends, Here are some of the disputes i have been talking about. Download the RHP from sebi website. follow this link www.sebi.gov.in/dp/kolte.pdf The Disputes are listed from page 204 to 215. More than 50 cases in various courts.
Friends Kolte Patil developers were always in dispute, One of the partner Mr. Patil is a politician and has used his political power to gain control over the land plots they hold. Majority of their plots are disputed, Banglore plot is just one of the many disputed plots. If you check SEBI website you can see that the Red Hering Prospectous for this IPO was filed duuring Feb '07 and IPO was open only in November, this delay was also because of many ongoing disputes they had. In a Bull market like this many investors just jump in to IPO's like this to make money only to get traped. If you checq has not cleared stop the payment. If really intrested buy this scrip in secondary market after listing.
Following are the Grey Market Premium on Monday at 1.30pm Edelweiss 830 - 840 Kaushalya 17 - 19 Renaissance - No trades Kolte Patil 105 - 110 Jyoti Labs at 430 - 435
pl take your money back, today i stopped payment for my application as my money is not withdrawn, currently those who are telling rs 100 premium is all fake,today even empee listed with huge discount, the main reason of failure will FII will not participate due to controversy, and if market will shed onother 1000 point than be ready for nice loss.currently those who are advocating will surprise that no sada are done, premium is 100 % fake, my friend is trying to sell even at rs 70 primium but no byer.
In the newspaper(TOI) dated 25.11.2007 there is news about that KPD is a fake company like dhanus tech. Company having no base in the said places anyone can withdraw the money fron the IPO Contact as soon as possible to your broker because 4 Dec 2007 is the last date for witdrawing your application
I dont think anyone can predict the outcome. But we have time till 4th Dec. You are allowed to send your request through Fax. So you can analyze for the next 2-3 days and take a decision. Watch out for expert analysis in different sites. do some googling. Check with your trading broker. Finally take a firm decision.
Even in a more risky case like dhanus, not that many applications were withdrawn as expected and it listed above its issue price, i think. Here the problem seems to be less severe. I think we can take a chance by not withdrawing the application and hope the issue gets solved before listing. Also it seems the refund will be issued only after allotment.