allotment uploud today 6:00pm..& see tomorrow 10:00am approx
1012. Haar Jeet| Link| Bookmark|
May 5, 2016 4:13:45 PM
Top Contributor (300+ Posts, 200+ Likes)
Reason of delay allotment in thyrocare..
The Bombay High court has upheld Kotak Mahindra Bank''s decision to invest in the maiden stock offering by the healthcare and diagnostic companyThyrocare Technologies. The private bank moved the court after its share application was refused due to technical reasons.
In a relief to Kotak Mahindra, the Court on Wednesday ruled that the bank can participate in initial public offering (IPO) of Thyrocare if the promoters, merchant banks and the National Stock Exchange (NSE) have no objections.
On the same day, the Mumbaibased lender approached the court, seeking intervention in the IPO process and arguing that its offer for qualified institutional buyer (QIB) was not accepted due to a technical glitch. The counsel representing the exchange said that if the merchant banks and promoters have no issues then it is willing to accept Kotak''s bid, subject to completion of formalities.
According to people familiar with the development, Kotak had applied at the highest band price (of Rs 446) in the QIB segment. Edelweiss Financial Services, ICICI Securities and JM Financial Institutional Securities are the bankers to the issue.
"All valid bids were taken by the system. As a general practice, maximum bids are entered in the NSE system as per advice," an NSE spokesperson told ET. "There was no system related issues at NSE," he added.
After hearing the arguments, Justice SJ Kathawala ordered all related parties to file their submissions for an amicable consent. When contacted, Nishith Dhruva, managing partner of MDP Partners, a firm representing Kotak Bank in the matter, confirmed the development but refused to divulge details citing client confidentiality.
According to data available with NSE, the issue received cumulative bids for over 55 crore shares or about 73 times the total issue of 75.21 lakh shares.
On LinK Intime site the massage is "Thryrocare Technologies IPO basis of allotment expected today eve. Pl check status on this website today late night." Seems allotment will be tomorrow...!!
Please go through Link website & write in the Forum. It is cleared mentioned by them that, it will be done after working hours today.
1006.2. Eagleye| Link| Bookmark|
May 5, 2016 3:36:37 PM
IPO Guru (6600+ Posts, 21900+ Likes)
I repeat ... No change in status
1006.3. Chem cho| Link| Bookmark|
May 5, 2016 4:17:32 PM
IPO Guru (2500+ Posts, 2700+ Likes)
LISTING CAN BE DELAYED
As finalisation of allotment which was on 4 may 16 did not happen , unlocking of funds was on 5 may 16 did not happen till 16 hours , banks are closed , now hence due to court matter with KOTAK bank all the procedure is delayed , wait for NSE announcement of listing date TYROCARE 26/Apr/16 – Participation by Anchor Investors 27/Apr/16 – Bid/Offer Opens 29/Apr/16 – Bid/Offer Closes 04/May/16 – Finalisation of Basis of Allotment 05/May/16 – Unblocking of Funds from ASBA 06/May/16 – Credit of Equity Shares to Demat Account 09/May/16 – Commencement of Trading on NSE/BSE
The Bombay High court has upheld Kotak Mahindra Bank''s decision to invest in the maiden stock offering by the healthcare and diagnostic companyThyrocare Technologies. The private bank moved the court after its share application was refused due to technical reasons.Â
In a relief to Kotak Mahindra, the Court on Wednesday ruled that the bank can participate in initial public offering (IPO) of Thyrocare if the promoters, merchant banks and the National Stock Exchange (NSE) have no objections.Â
On the same day, the Mumbaibased lender approached the court, seeking intervention in the IPO process and arguing that its offer for qualified institutional buyer (QIB) was not accepted due to a technical glitch. The counsel representing the exchange said that if the merchant banks and promoters have no issues then it is willing to accept Kotak''s bid, subject to completion of formalities.Â
According to people familiar with the development, Kotak had applied at the highest band price (of Rs 446) in the QIB segment. Edelweiss Financial Services, ICICI Securities and JM Financial Institutional Securities are the bankers to the issue.Â
"All valid bids were taken by the system. As a general practice, maximum bids are entered in the NSE system as per advice," an NSE spokesperson told ET. "There was no system related issues at NSE," he added.Â
After hearing the arguments, Justice SJ Kathawala ordered all related parties to file their submissions for an amicable consent. When contacted, Nishith Dhruva, managing partner of MDP Partners, a firm representing Kotak Bank in the matter, confirmed the development but refused to divulge details citing client confidentiality.Â
According to data available with NSE, the issue received cumulative bids for over 55 crore shares or about 73 times the total issue of 75.21 lakh shares. The company has offered shares worth Rs 451 - 480 crore (depending on the price band). The price band was set at Rs 420-446.
1005.1. Chem cho| Link| Bookmark|
May 5, 2016 4:06:05 PM
IPO Guru (2500+ Posts, 2700+ Likes)
1003. Venkatram| Link| Bookmark|
May 5, 2016 3:04:26 PM
Top Contributor (300+ Posts, 100+ Likes)
The case of Kotak moving Bombay High court only proves the interest QIBs have for this IPO. I am expecting a strong listing around Rs.800/- . Hope I get allotment.
No bid details found for my application on this portal but I received SMS from DM-NSESMS. This site could be developed in hope of getting the registrar contract but later didn''t get it.
the message on link intime website today is "Thryrocare Technologies IPO basis of allotment expected today eve. Pl check status on this website today late night."