Tata Steel Ltd FPO Message Board (Page 10)

Tatasteel has finalised Issue price as 610.

last minute good response from QIBS even FIIS.

the gmp increases to 2400 per 2 lac application .

whats the view of friends on tata steel now

Friends the flip flop on SAIL FPO continues:


NEW DELHI: The much-awaited SAIL's follow on offer will come out next month and the steel ministry will examine the question of the same four merchant bankers, who are running rival Tata Steel's offer as well, handling the offer, said a finance ministry official on Friday.

" SAIL FPO would come out in this fiscal, sometime in February. The Steel Ministry is examining the issue of merchant bankers and they would come out with some conclusion in next 2 to 3 days," a Finance Ministry official told media.

Recently, the government had questioned business ethics of four leading investment banks, SBI Caps , Kotak Mahindra , Deutsche Bank and HSBC , for accepting the job of managing the public offer of Tata Steel when they were already working on SAIL's FPO.

These bankers were hired as the book running lead managers (BRLMs) for SAIL's FPO in September last year, much before Tata Steel reached an agreement with them to manage its over Rs 3,000 crore FPO that closed today. "We are unhappy about it. I don't know if they (banks) can do like this. Certainly, this is unethical..,"the then Steel Minister Virbhadra Singh had said earlier this week.

The government plans to disinvest SAIL in two phases. In the first phase, besides raising Rs 4,000 crore by divesting 5 per cent government stake, the steel giant would raise fresh equity of the same proportion. In the second phase that is yet to announced, another 10 per cent stake sale would be undertaken by SAIL through the FPO route.

Presently, the government holds a stake of a little over 85 per cent in SAIL. Post-FPO, its equity in the company is expected to go down to about 69 per cent.

Aiming to raise Rs 40,000 crore through disinvestment in the current fiscal, the government has mopped up over Rs 22,000 crore by diluting its stake in six companies-Satluj Jal Vidyut Nigam, Engineers India , Coal India , Power Grid , Manganese Ore India Ltd and Shipping Corporation .

Besides SAIL, the government also plans to dilute its stake in ONGC in March this fiscal. The Cabinet on December 1 had approved sale of the government's 5 per cent stake in ONGC, which is the nation's highest profit-earning firm, to raise up to Rs 13,000 crore.

Post offer, the government shareholding in ONGC would come down to 69.14 per cent from the current 74.14 per cent.

Final subs
retail 1.60
qib 10.41
hni 7.21
emp 0.06
total 6.03

Final subs in retail 1.60

about 205 to 215 sher allotment per 2 lakhs application
enjoy

@IPO WIKILEAKS,

Check your figure right. Out of 293460110 shares bid in FPO, 293325000 was received at 610. So FPO price more likely to be fixed at 610.

price will be decided at lower band which is 594

because total issue size is 49800000 share (approx)

and total bid received at cut off price is 26400000 (approx)

so it has to decided at lower band or lower than 610 and so tata steel will open break down on monday morning.

Prem 11 rs per shre
app 1900

Sub ipo/fpo ka popat ho jayga, P.M nay bool diya ki woh swis bank may paisa jama karnay walay chooro, desh kay dusmano ka nam janta ko nahi bataygay chahay jo ho jay, gotalay pay gotalay ho rahay hi, mahgai charm pay hi, petrol 62/letter hi .Gareb mar raha hi choor lakho caror rupya swis bank may jama kar rahay hi, incomtax dep. P.M say nam kaisay posay.

Current Retail Subscription is around 1.6 times in retail
Can any one tell me how do I see how much bid is done at cutoff or at 610 Rs
NSE provides Bid Details in .xls sheet but at BSE I am not able find the details It just shows total subscription
How do we calculate NSE + BSE subscription ?

Thanks
Milind

WHAT IS PREMEUM

TATA STEEL FPO UP DATE 6pm
QIB : 10.41 TIMES
HNI : 7.21 TIMES
RETAIL: 1.59 TIMES
TOTAL : 6.03 TIMES

1.58 times in retail till 6.00 PM.

Updated as on 21 January 2010 at 1700 hrs                        
Sr.No.      Category      No.of shares offered/reserved      No. of shares bid for      No. of times of total meant for the category
1      Qualified Institutional Buyers (QIBs)       19425000      184704910      9.51
1(a)      Foreign Institutional Investors (FIIs)            53353730      
1(b)      Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)            91230100      
1(c)      Mutual Funds            40078530      
1(d)      Others            42550      
2      Non Institutional Investors      8325000      44518880      5.35
2(a)      Corporates            36838170      
2(b)      Individuals (Other than RIIs)            7371090      
2(c)      Others            309620      
3      Retail Individual Investors (RIIs)      19425000      18714380      0.96
3(a)      Cut Off            14778310      
3(b)      Price Bids             3936070      
4      Employees (EMP)      1500000      61650      0.04
(a)      Cut Off            57210      
4(b)      Price Bids             4440      
      Total      48675000      247999820      5.10

upto 5 pm
QIB - 10.41
NII - 7.21
RII - 1.46
EMP - 0.05
TOTAL 5.97

PLZ GIVE IPO subscription detail

Oh god, i think i had missed, PSbank, in which i booked loss after waiting for a long time...

Because i am not aware that results are to be out soon...

Tata steel FPO is not good for Retail investors because of uncertainty in global economy. It may be good in a longer period say 6months to 1 year. We can't take the risk because we look mainly for listing gains. Gains will depend on how the market will be during listing.
Also, the stock price don't offer any margin of safety for us which is just 3% by today's price.

The issue which came up suddenly and the way it is priced, the management is really greedy and they just want money. They are not looking to support retail in any way. They are also well aware that FII's and Mutual funds will grab it. Any way it is again people's money and can hold for long term. But we can't take the chance after applying in full and locking it till we reap the gains.

SAIL is likely to offer good value investment for retail. Tata steel if it comes down closer to 500- 550. We can look into it. As also somebody pointed out Commodity stocks are cyclical. We all know that in 2008 how tata steel corrected and was ruling it at Rs.200.

Considering all this things, retail needs to be very careful as the mood in the market is still very negative.

TISCO AT 4.00 PM


QIB-10.41, HNI-7.21,Retail-1.23,EMP-0.03,Overall-5.88