Fineotex Chemical Ltd IPO (Fineotex IPO) Detail

53. KK Natarajan

No, not visited. I am likely to visit again next month. Next money I have a plan to visit not only Ireland but alos Europe.

It appears honeymoon is over for Fineotex Chemical (205). Facing resistance above 216.

It could fall to 165 & then 145.

Ravi, Bangalore,
I have heard Ireland is a nice place. Did you visit places like The Cliffs of Moher, Connemara Countryside, Blarney Castle, The Lakes of Killarney, Blasket Island, Powerscourt Gardens etc.,
By the by, the whole of Ireland would have enjoyed their performance in the recent cricket world cup , especially their win over England. Isn't it?

Ravi,

Hope you managed to see a few places around, its a nice place to visit. I am based in Scotland, never been to Ireland though.

50. KK Natarajan

I went to Ireland. It is typical 9 - 5 work there unlike here. Even Friday afternoon we used to leave office for week-end.

Dear Ravi, Bangalore,
Welcome back home. Which country did u visit? Did you enjoy the trip or was it 100% official?

44. SkDash

I was in abroad for 10 days on duty.

lost in the market stop asking about unreasonable targets in this site as this can lead to losses to other boarders here and there will be many more lost from the market. stop asking will this stock go to this level or not as we are all retail investors and not operators that we'll know about this.

..............Lost in Market :

Forget achieving target of 450+. These small stocks are operator driven & have more chances of going to lower circuits than going up. In my opinion you should avoid it since even the current price is not sustainable for long.

Can we buy Fineotex Chem at 188 for target 450+ in few days? I wish I had bought it at 80-85 and hold :(

The performances of Acropetal, Fineotex and Sudar will now act like baits to attract those retail investors who wish to stay away from IPOs after a series of poor performances or poor returns in good performing IPOs/FPOs due to heavy subscription. This is not going to be good at all for the primary market.

Ravi- whats going on ? Hv u subscribed and got allotment in FCL and Sudar ? Any trading strategy ? I have short position in FCL at 102 (tgt 90) and Sudar in 88 (tgt 80). Any suggestion from yr side ?

Those who have applied are having a great day. Congrats!

Dear IPO Raja & SKDash,

Regarding the eligibility of minors applying in IPOs, certain companies allows this and certain companies does not. This can be read from the instruction given in the application under the head " Who can bid".

For eg. Gravita India allowed minors to apply and most companies which have come with IPO in the recent past including Lovable Lingeries does not allow minors to apply.

Whatever instructions the company gives for bidding, they have the right to reject the application on that basis.

38-Ipo raja-

As per indian contract act- a minor cant enter into a contract and any such contract shall be void. The Company Law Board held in Nandita Jain v. Bennett Coleman & Co. Ltd in 1978 has decided that that a minor applying (through her natural guardian) for being registered as a member of a company, was entitled to be so registered if the shares were fully paid up (since a minor cant be held liable at any circumstances). Under section 41(2) of the Companies Act, 1956, a member is defined as a person who
'agrees in writing' to become a member and a minor cannot agree to be a member of the company since in capable of enter into any agreement.
So as per me- a company cant allot shares in the name of the minor unless the same has been applied thru his/her guaradian. Have u applied under ASBA or physical ? If it is ASBA, they are right in rejecting the same.

Finotex-Forecase as per greymarket.in- 'it may go into discount after listing'
company-below average fundamental
subscription-QIB-0.00 times, NII-0.22 times and RII-4.38 times
Issue Price-72
GMP flat at 2.50-3 for 2-3 days

Hope both sudar and finotex will be listed at prem
Lets see tomorrow

ON LISTING

******
SHORT IT ........SHORT IT

EARN HANSOME PROFIT

BIG SHARE HAS REJECTED THE APPLICAION OF MINORS

THIS IS NOT PROPER.

IT IS VERY MUCH LEGAL TO DO IPO IN THE NAME OF MINORS.

WE ARE GOING TO SUE BIGSHARE.............

apply 270 get 180

DEAR SIR,

FINEOTEX KI RS. 2 LAC KI APPLICATION PER KITNE SHARE AANE KI UMMEED HAI

State Bank of India



(Reuters) - State Bank of India (SBI.BO), the country's largest lender, received subscriptions for 85.8 billion rupees ($1.9 billion) for a bond sale, or more than 8.5 times the minimum on offer, two sources with direct knowledge told Reuters on Tuesday.

The state-run bank aimed to raise 10 billion rupees, with a greenshoe option for an equal amount. However, the bank said in its prospectus it had the option to retain up to 100 billion rupees if subscriptions from retail investors were more.

The bank, which along with its associates controls about a quarter of all loans in India, is raising the money to meet its assets growth. Demand for loans in India expanded 23.9 percent on year as of Feb. 11.

Retail investors put in bids for 45.72 billion rupees, compared with the minimum 5 billion rupees offered, said the sources who could not be identified as they were not authorised to speak to media.

For rich, or high net worth, individuals, the subscription was 5.08 billion rupees and for qualified institutional buyers it was 35.01 billion rupees, compared with the minimum offer of 2.5 billion rupees each, they said.

"These are provisional figures as there are some more applications left," said one source.

The bank had offered 10-year bonds at 9.75 percent for retail investors, and 9.3 percent for non-retail applicants. The bonds carry a call option in the fifth year.

It also offered 15-year bonds at 9.95 percent to retail investors and 9.45 percent to non-retail investors. The bonds have call option in the tenth year.

State Bank's previous public bond issue in October, worth 5 billion rupees, was subscribed 20 times, with the bank retaining 10 billion rupees.