Coal India - Review + Recommendation

[Cher]

Guys,

There is a word on the street that due to some errors in the financial statement of Coal India Ltd., investors have been given the option to cancel the IPO bid.  To verify this, I checked on BSE website but did not find anything.  I have put 2 Full applications.  Can someone look into it and guide whether to cancel the bid.  Lot of money is at stake , please help!

Cher

[komal]

Guys,

There is a word on the street that due to some errors in the financial statement of Coal India Ltd., investors have been given the option to cancel the IPO bid.  To verify this, I checked on BSE website but did not find anything.  I have put 2 Full applications.  Can someone look into it and guide whether to cancel the bid.  Lot of money is at stake , please help!

Cher

http://economictimes.indiatimes.com/markets/ipos/Errors-in-prospectus-Coal-India-gives-investors-exit-option-until-Oct-25/articleshow/6791189.cms

Don't cancel your bids. It is a very very minor error.

[Cher]

Thanks, Komal.  Will not withdraw my bid.  Lets hope for a bumper listing...
Also, what should be the long-term strategy??  I am expecting around 200 + 200 shares.  Should we sell atleast half on listing or hold for 2-3 years for good returns.  Thanks in advance for your suggestion.

Cher

[Cher]

Sold 15% today @ Rs. 335.  Happy Listing and Happy Diwali!

Cher