This is IPO of Mahindra group. It will not make the ipo fail as it is a big corporate group. Also look at the lead managers HSBC,Kotak, if the ipo fails it will prove that kotak is not a good lead manager. Believe me there will be rush for ipos like NTPC but there will not big allotment. Here big allotment and low margin both are same. Look at Akali metal, Edserve having no group, came out with ipo and succeed. Just go for it. FIIS are buying heavily. Valueation remains always a concern for any IPO.Go aggressively.
NHPC is also planning opening on 15-Jul-09. Adani power and others ipo are also coming. Preserve money. Mahindra's refund might not come before that. Here u wl get full allocation and chances are that u make 39Rs. or loss equal or more amount. In NHPC definitely people will make money. Take u'r bet.