Mundra Port and Special Economic Zone, India's largest non-government cargo terminal, got bids for almost triple the number of shares on offer in a Rs 17.7 billion (USD 450 million) initial sale, the first by an Indian port.
The issue subscribed 2.6 times and all bids were at Rs 440 per share, a higher end of price band.
The company, which today began offering 40.25 million shares at Rs 400-440, received demand for 105 million shares in the first half hour. The price will be decided after the sale closes on November 7.
Mundra, which aims to set up cargo and coal terminals and develop a trade zone from the proceeds, is tapping an economy forecast to grow about 8.5 percent in the year to March 31. India's gross domestic product grew an average 8.6 percent over the past four years.
The Adani Group, founder of Mundra Port, has interests in commodities trading, coal mining, power generation, real estate development and agriculture processing.
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Hi, Can any tell me if I apply for mundra port IPO then when its refund will come and is it possible to use this money for reliance power IPO ? I mean kiya muje mundra ke IPO ka refund Reliance power ke IPO ane tak mil gaye ga ke nahi?
Summary Of IPO @ 11:00 AM on Day 1 - Nov 01, 2007 Total Issue Size 40250000 Total Bids Received 105162315 Total Bids Received at Cut-off Price 3285 No. of times issue is subscribed 2.61
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Hi, all members, whats the chance of allotment if i apply 225 share at Rs 440 = 99000/- . How it will be calculated if IPO oversub. Can any body tell me the technique. Bcoz i lost my hard earned money in satta bazar with in a year and now i am only want doing in stock with deleivery. i manage only few bucks for me again and want to doing fare things like. IPO subscripton, only good quality stock delivery. But many good thinker suggest me that u go for IPO, so u can earn ur lost money in very qucikly. Any sugg. plz guide me. ??
Hi Madhu, Can u please tell me for Rs 100,000 application u r telling in religare one would be alloted 3200-3300 shares but uc if one is alloted is 3200 also then his application comes to 3200*185=592000, i am sorry can u please guide me as to this i am not able to get ur comments