The 41.5 crore shares initial public offer of state-run power producer Satluj Jal Vidyut Nigam (SJVN) has received a good response from investors and got subscribed 6.48 times so far, as per data available with the National Stock Exchange.
The issue, which closes today, has received bids for 269.06 crore shares against 41.5 crore equities on offer. Major bids were received at Rs 23, at lower end of price band of Rs 23-26 per share.
I think it was one ipo which retailers missed to apply. if the issue get subscribed only 2 times in retail its a bonus to retailers as thsi stock in no market condition can go down below 28 rs.
this is a grade 4 which suggest good fundamentals like cox and kings,il&fs,oil india. even oil india few rtailers applied and they got maximum profit. this was just issued at 12 p/e comparitively to nhpc 30 so if nhpc croosess 35 by time of listing this stock may go above 32 rs as well on listing.
enjoy profits as i applied 4 full application in it.cheers
@Rakesh, All that matters for the issures is if the book can be completed at the higher price.. so... if they can give away all their shares at 26, they can as well as decide to sell at 26. Given that this book is oversubscribed by by 6 times... lets be honest, they can sell more than the number of stocks that they initially wanted to sell @ 26. There is no need for them to sell any lower....