
Retail Participation in recent IPOs continues to surprise me. Retail demand in Ravi Kumar is almost same as HNI + Corporate demand. In case of Shipping Corp., Retail demand is highest. One part of the change is due to increased limit for Retail investment & other part is also effect of successful issues like Coal India. Since demand of shares keep increasing, the allotments continue to get poorer :) So making money is becoming increasingly difficult :(
I let A2Z issue go since funds are blocked. Most of the analyst feel that this IPO is over priced a bit but my sense is that this will list at a premium. Let's see. On the other IPO this week, Ravi Kumar Distilleries, I would not invest even if I had funds. I would like to stay away from stocks in the category like Liquor, Cigar etc. I am fully aware that some of my direct equity or mutual fund investment may not be always in what is called 'Ethical Businesses' but I would like to do what I can.
Punjab & Sindh IPO looks interesting. There are management comments that they would like to leave 'something on the table'. I will take a look at the numbers but most likely we will apply.
We bought LIC Housing, Yes Bank, Shriram Transport & IFCI in the recent crashes. To me, it seems that the undertone is still bearish.
Regards, Rohit
No comments:
Post a Comment