Power Grid IPO demand at $47 billion
Power grid IPO has been subscribed 65x times with QIB category going at 115x. Retail was 5x. CNBC reports that $600 million each have been bid by the likes of HSBC, Fidelity and Soros fund.Also domestic institutions like LIC, SBI,IDFC etc have put in bids of 2500-3000 crore each! The total demand has been seen at $47 billion.
This is going to be the “mother of all IPOs” !
Till the company gets listed, it might be a good idea to keep an eye on PFC,PTC,NTPC etc. It might not be a bad idea to add these stocks on corrections.
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NSE updates it on its website http://www.nse-india.com but I don’t its live.
Is there any site on which i can know the status of the live book building for an IPO, category-wise?
To be more specific, from where can i know the current live subscription status of the book building for the “Retail category” ?
@sagecapital
The allotment procedure though is arbitrary, however transparency of the same cannot be questioned.
Here is how the allotment is done
The bids are first allotted to the different categories and the over-subscription (more shares applied for than the shares available) in each category is determined.
Retail investors and high networth individuals get allotments on a proportional basis.
Assuming you are a retail investor and have applied for 200 shares in the issue, and the issue is over-subscribed five times in the retail category, you qualify to get 40 shares (200 shares/5).
Sometimes, the over-subscription is huge or the issue is priced so high that you can’t really bid for too many shares before the Rs 100,000 limit is reached.
In such cases, allotments are made on the basis of a lottery.
Say a retail investor has applied for 5 shares in an issue, and the retail category has been over-subscribed 10 times, the investor is entitled to half a share.
Since that isn’t possible, it may then be decided that every 1 in 2 retail investors will get allotment. The investors are then selected by lottery and the issue allotted on a proportional basis among.
regards,
Mayank Sinha
@ Sagecapital
Dont say that dear… coz whatever you are saying is happening that way only.. these days im a “once in every 1/2 hour” visitor on your site…
afterall i have put my money into it.. 😉
I will be playing it the same way we played DLF or HDIL .Closely observe how these issues fared after listing.
Let the issue hit the market. Who knows what the listing price will be in case the markets are weak at the time of listing?
at what rate would you like to buy power grid from secondary market ??
This doesn’t look like a transparent system-looks pure arbitrary to me!
Depends … RPL see, ppl applying for full Rs 1 lac got only 116 shares, they do it this way : certain smaller applications (1 lot/2 lots) they give say 1 out of 20 (or whatever ratio they have) full allottment, then the little higher ups (3-4 lots) they increase to 4-6 out of 20, next category 10-12 out of 20. Then the really higher ones (almost maximum permissible) , they subdivide and give equal of the remaining shares. This is bcoz they have invested large amt and shown trust so at least some allottment to reward the investors ….
This again depends on the company as well as the company handling their issue …
Looks like that ! As I am not an IPO investor, may be someone else who has earlier applied for a Everonn/Vishal Retail/Omaxe/Sobha can tell that.
Retail category has been subscribed 6.x times. So does this mean anyone subscribing for 7 lots (7*125) will get at least one lot? Is it as simple math as I stated above?