Puravankara Projects Limited IPO Message Board (Page 7)

purankara must extend till 12th at price band 300-350.

I have already applied for Purvankar at cut off rate @525 through ICICI Direct. Now can any body advise me what to do and How to rebid.

hi,
everyone should avoid this issue. a lesson should be taught for such greedy promoters.

HI, for everybody. Avoid this expensive issue, otherwise you loose money. Most of the co., are like this recent IPO's. They are looting the public and small investors money. IVRCL Prime is same.

28460390...it's working.       
Address is
CAMEO CORPORATE SERV L(BOARD)       
1,CLUB HOUSE ROAD,ANNAROADHO,CHENNAI-600002

95. KARISHMA
contact Registrar for refunds
Cameo Corporate Services Ltd
Ph: 044 28460390
Email: cameo@cameoindia.com

Good luck

Premium Investments Aug 03, 2007
Unattractive even at revised price

Puravankara Projects has got an extremely poor response to its IPO. There was no response from HNI and Retail Category till 3 pm on Friday. Even QIB withdrew their applications, which is evident from the poor IPO subscription. It was subscribed 38% till 2 pm which got reduced to 37% till 3 pm on Friday.

Due to such a pathetic response, management and BRLM were forced to lower its band to Rs.400 – Rs.450 per share and have also extended closure of issue to 8th August 07. Management attributes the poor response to issue, to volatile market conditions. Markets are definitely volatile but have not turned so negative that it would compel a company to reduce its band by almost 20%. So why not admit that it was stiff pricing, which was the cause of poor response?

The issue was analysed in great length by us, wherein mode of acquiring 43.56 million sq. ft. land was questioned. It was like building castles in the air.

Now let’s have a look at the company’s valuation at both the bands. The equity of the company is 21.35 crore shares of Rs.5 each for Rs.106.74 crores. At Rs.400, the market capitalization works out at Rs.8,540 crores. In view of company having 102.25 million sq. ft. developable area, the valuation is still stiff and aggressive. Parsavanath Developers having developable area in excess of 150 million sq. ft. plus SEZ over and above that, have market capitalization of Rs.6,000 crores, that too having its land bank in north, especially in NCR region. So, if issue is still aggressive at the lower revised band of Rs.400 per share, obviously it is very expensive at Rs.450, which is the upper end of revised band. Maybe, the company has got indication of this band from its prospective investors.

It is likely that price may get discovered at Rs.400, at the lower band and still we may still find it stiff and aggressive.

. KINJAL (59.182.110.35) 8/3/2007 8:11:23 PM IST
AVOID THIS ISSUE ......TELLIN AGAIN MANY BETTER ISSUE.
MAX UPSIDE 8 -10 % .
DOWN SIDE 25 -30 % .
THEY AREE JUST FOOLING RETAIL INVESTERS FAIR VALUE IS
AROUND 325.
JUST BLOCKING UR MONEY FOR 15 DAYS & STAYING IN TENSION
IS NOT WORTH.
GOOD LUCK.

purvankar issue is worthy upto Rs.190-200 inthis higher index otherwise it is not worth @40-50\- now every company is cutting our skull. priviously they cut our head skinn.teach them lession that indian invester is not foolish.

hi Raghu

i am a retail investor and i can apply in 5 accounts of my family and as u said that i wud get 100% allotment. wat i will do is that i wud sell 1000 shares at a premium of 75 and deliver when i got allotment and according to CNBC as well it will now give 15-20 % opening gain

Hi

Mkt leader (90), See comments 87,79 and 78, even after noticing irregularities in subscription, manipulated demand in QIB, if u r retail investor having confidence in Purvankara can proceed.
P K Jain (88)- Yes u r 100% correct. Hope SEBI will intervene.

The Grey market premiun of this issue Zooms to 75 so guys be carefull. now company persons wants this issue to oversubscribed by atleast 20 times. wat u say guys. shud we go for invest or we have to avoid it

Whomsoever has invested at the cut-off price of Rs. 525 eariler, can request for a refund. They would get all the monies refunded....according to the citigroup..one of the lead managers. I heard the interview of the citigroup personnel today (03/08) in NDTV profit..so get the money refunded and enjoy...!

Sir,

Due to the change in the terms & conditions of the issue, will SEBI intervene in the matter and cancle the issue and ask the company to file the documents again and to approcah the investors after that.

P K Jain

Hi
BEWARE OF THIS ISSUE.
See Biiding status detail : Day 3 QIB subscription was 0.4370 but Day 4 it reduced to 0.3206. This speaks a lot about this issue.

No. of times issue is subscribed (BSE + NSE)
As on Date QIBs Non Institutional Retail (RIIs) Total
Day 1 - 31-Jul-2007 17:30:00 IST 0.4215 0.0000 0.0018 0.25
Day 2 - 01-Aug-2007 17:00:00 IST 0.4215 0.0064 0.0239 0.26
Day 3 - 02-Aug-2007 17:00:00 IST 0.4370 0.0669 0.0456 0.28
Day 4 - 03-Aug-2007 17:00:00 IST 0.3206 0.1390 0.4966 0.36

Purvankara is not worth investing even @400/ share. The company has more demerits to its name rather than merits. With so many little orders in hand (improper guidance even for short term) one cannot expect to pay 400 for this company. So please ignore this issue other wise you will end up in loss (@75 - 100) per share

despite reduction in rate & extension of period the issue is not worth it.

despite reduction in rate & extension of period the issue is not worth it.

AVOID THIS ISSUE ......TELLIN AGAIN MANY BETTER ISSUE.
MAX UPSIDE 8 -10 % .
DOWN SIDE 25 -30 % .
THEY AREE JUST FOOLING RETAIL INVESTERS FAIR VALUE IS
AROUND 325.
JUST BLOCKING UR MONEY FOR 15 DAYS & STAYING IN TENSION
IS NOT WORTH.
GOOD LUCK.

DONT APPLY