IPO round up – 15th Dec

Punjab and Sind Bank IPO – Last day

  • The subscription for P&S Bank on 15th was QIB 50 times, HNI 23 times and Retail 8.4 times – huge over subscription !!
  • Retail can easily go up tomorrow to 25-30 times – sounds like a repeat of MOIL in terms of over subscription
  • The offer is of course attractive, but in the IPO format, too high interest means smaller allotment, reducing the returns from the offering.
  • Good luck with your investment !
  • Also see Analysis of this IPO – click link

MOIL listing

  • the share exploded off on listing today to peak at 591 – a premium of 58%
  • However, it was downhill thereafter, as the overall market negativity dragged it down
  • With markets expected to be dull for a while, heading into the year end, I’m not sure if we will see a new high very quickly in MOIL
  • Also see analysis of MOIL IPO


  • SCI saw some weakness, with market prices falling below even the discounted Retail pricing.
  • I expect a few dull days before the stock gathers strength again – it has to reverse the direction.
  • Also see analysis of SCI FPO – click Link

Manganese Ore India Limited – MOIL – IPO – Post review

  • MOIL IPO was a stunner – over 55 times subscribed – this is too much.
  • Retail it was 33 times. Too bad guys – chances are allotments may not be more than 20-22 shares at cut – off. Worth about Rs 8000 for Retail.
  • The interesting thing will be to see the appreciation on listing. CIL inspite of it’s size was only 15 times over. It gave a listing pop of 45%.
  • But with MOIL we are in new territory. Smaller cap listing, higer oversubscription, good basic assets.  50%? 60%? Lets wait and see ….
  • The lesson from CIL is that HNI is moving to Retail (quota) . Retail gets more shares allocation. Of course the new increased 2L limit for Retail helps, as does the 5% additional discount on PSU offerings.
  • Also see analysis of MOIL IPO – Click link