SEBI has put up on its website a discussion paper on definition of a retail applicant. It is in our interest to put up our views and comments on the same.
The last revision was done in 2005 and the present limit is certainly out of place. One must also remember that the days of at par issues is long gone and if one were to take the last few issues to hit the market, the issue prices on normalised face value of Rs 10 would be subsstantially higher.
| Engineers India | Rs.580 |
| SKS Microfinance | Rs.985 |
| Bajaj Corp | Rs.1320 |
Looking at these prices a limit of Rs 5 lakhs may be appropriate. More of this over the weekend.
SIR
AS USUAL U R THE FIRST TO COMMENT ON THIS AND ALSO TO GIVE A LINK TO SEBI SITE FOR THE INVESTORS TO POST THEIR VIEWS ON THE SAME, SIR ITS A GOOD MOVE FROM SEBI IN INTEREST OF RETAIL INVESTORS WHO ARE LOYAL BUT ALWAYS ON HOOK IN TERMS OF ALLOTMENT.