@Karam , well spotted! NII - Shares applied - 28,01,400 (191 apps) Shares available - 10,83,000 Subs - 2.59x Technical rejection - 18,44,200 (33 apps) Net Shares allotted - 9,58,200 i.e. 100% allotment with remaining shares spilled over to Retail.
Wow! Goes to show the length such companies can go to, to fool investors.
Why big application rejected.Most of these applications are of big size and might be applied through online. There may erroneous pan no or same pan no of two applications same. Amount to block karwana hi pada hoga. Some strategy may be cooking inside. Ho sakta ha promoter sold nearly of 18 Cr share and they want to recover the same at below price in some other name.
Yes, Karam and Rakesh 18*237=Around 45cr Amount was required to apply fake application. And it is deliberately done for non allotment.This might be surely done by Promoters only. Nothing can be others interest. So this 45to 50cr amount shall be with promoter and they will play game in price of share.
Probably fake applications were made in HNI category. That is why after rejection, real subscription might be in the range of 1x to 1.5x. Hence 5 lots alloted for 5 lot application. Rest BOA will make it more clear.
Above 10 lacs and below 10 lacs have separate subscription so it may be possible that big one applied more so below 10 lacs got more subscription
43.4. Anil Mwt| Link| Bookmark|
July 11, 2023 1:19:57 AM
Top Contributor (400+ Posts, 100+ Likes)
Lead manager First overseas capital ltd, Lm of some companies, Duocol organics Varanium cloud BEW engineering Cell point Kore digital Nirman agri Svj ent Amanya venture Etc:
43.5. SamJos| Link| Bookmark|
July 12, 2023 4:55:55 AM
Top Contributor (500+ Posts, 100+ Likes)
@Anil Mwt Many Companies from the LM list had initially performed bad vut then improved a lot. So all investor who got unexpected 100% allotment, should not rush to sell all lots. As per individual risk appetite & confidence in company/promoter, should partly sell on listing day & partly later with hope of stock recovery.
With a miniscule turnover of about 51 cr for FY 2022 and an Employee count of 584, what is their average salary out go for that year? Any one who gone through the RHP, pl share the information.
30. sahab| Link| Bookmark|
July 5, 2023 9:56:19 AM
IPO Guru (1100+ Posts, 600+ Likes)
@abc xyz sir thank u very much for your input,ur really Genius,we r proud to have u in CG forum, requesting u to share ur input in each & every ipo prior,so tht we can join with u in applying ipo & buying shares from market..ur analysis & research is super,iam ur big fan ABC xyz ( ur name plz )
28.2. sahab| Link| Bookmark|
July 5, 2023 1:11:59 PM
IPO Guru (1100+ Posts, 600+ Likes)