Update Jan 01 2014
The PGCIL FPO and subsequent price action has so far rolled out in expected fashion.
- Retail investors who followed the buy recommendation at FPO, and applied for the maximum shares at Cut-off would have received 1029 shares (after applying for 2250) at Rs 85.5 .
- This translates to a gain of Rs 14,400 at todays CMP of 99.5.
- A gain of 16.4% so far, in just a month of investing.
What should you do now?
The market and the share looks good so far, so hold on if you can for more gains.
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FPO Update 11th Dec
- The FPO closed finally with 6.74 times subscription. Of this, Retail was 2.17 X, QIB 9.09 X and HNI 9.7 X.
- So Retail applicants should get 40-60% of their applied shares.
- The pricing declared in this FPO was Rs 90, at the upper end of the range. Thus the FPO has been a success, and has raised about Rs 7000 crores.
- This success indicates a mood change in the market. Certainly many firms will now approach the market with IPO/FPO offerings. Also its obvious that institutions and HNIs are participating/ investing more than Retail.
- Time for the rise of Indian Retail?
- Published on: Dec 6, 2013 @ 11:39
- Pricing: Rs 85-90 range
- Issue Period: 3-6 Dec 2013
- Retail gets an additional 5% discount
1) a PSU semi monopoly for power transmission
2) guaranteed returns on assets; predictable income and cash flow
3) over 15%…
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