Category: India IPO Reviews and Updates

The IPO of Rural Electrification Corporation was subscribed 27.91 times at 11:00 PM on the final closing day. The retail portion was subscribed 7.67 times.

All retail applications bidding for 480 and above will get atleast 60 shares as firm allotment.All the retail applications for 900 shares [Rs 1 Lakh application] will get firm allotment of 120 shares.

We have a SUBSCRIBE recommendation for the REC IPO.
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Rural Electrification Corporation – REC is a public sector financial institution and a non-banking financial company (NBFC) providing fund and non-fund based services to clients engaged in various aspects of generation, transmission & distribution and related activities in power sector in India.

The company was founded with the sole objective of extending finance to and promoting power projects and related activities in India. The company occupies a key position in the government’s plans for the growth and development of the Indian power sector, especially in rural areas. It has played and will continue to play a key role in the implementation of government policies and programmes. (more…)

Feb-11th is the day when the first lady of ADAG group, Tina Munim Ambani celebrates her Birthday. Unfortunately, the day turned out to be a Valentine Mismatch for the ADAG group chairman Anil Ambani. His Dirty Energy IPO closed at Rs 373 a massive 17% discount to issue price after trading below Rs 445 for most of the day.

All the Anil Ambani group companies were hammered mercilessly adding to the blood bath on the street.

Reliance Energy Down 18.72%.
Reliance Communications Down 9%
Reliance Capital Down 11%
RNRL Down 17% (more…)

Our analyst in Mumbai is informing that the Greedy management of EMAAR MGF Real Estate has withdrawn the IPO.

We were the only one to BOLDLY put an AVOID rating on the IPO. However, things changed this late afternoon as QIBs and FIIs withdrew their bids and the subscription fell from 0.83% to just 0.43%.

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IRB is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. The Company has established business in the roads sector and has a large portfolio of completed and operational BOT projects in road infrastructure sector.

IRB also has an advantage of support of experienced promoters and skilled engineering staff. It has recently diversified into the real estate development sector in order to complement its infrastructure development business. Due to its early entrance in the BOT toll road business, IRB operates a number of BOT projects which contributes to robust cash flow and a healthy bottom-line. (more…)

Wockhardt Hospitals Limited is one of the largest private healthcare companies in India. It has a network of 10 super speciality hospitals and 5 regional speciality intensive care units (ICU) along with 10 pharmacies. However, only 3 of these hospitals contribute to more than 70% of the revenue of the entire company. The Company is planning to add 16 hospitals within a span of two years and is raising capital to fund these expansion plans and repay its loans. (more…)