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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These reports and documents have been prepared by JainMatrix Investments Ltd. They are not to be copied, reused or made available to others without prior permission of JainMatrix Investments. Any questions should be directed to the director of JainMatrix Investments at punit.jain@jainmatrix.com
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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?
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FPO Analysis
- Published on: Dec 6, 2013 @ 11:39
- Pricing: Rs 85-90 range
- Issue Period: 3-6 Dec 2013
- Retail gets an additional 5% discount
Positives:
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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