Infinite Computer Solutions Limited (ICS) which had tapped the capital markets with a public issue between the 11th and 13th of January 2010 was very heavily oversubscribed. The issue was in a price band of Rs 155 – 165.

This response is excellent by all standards. In recent history any single category being subscribed in three digits is unheard of. The trick was the pricing. It is reasonably priced and leaves enough on the table.

The oversubscription in the HNI or non-institutional category makes the cost of application with leverage at roughly 80 Rs per share implying a breakeven only at Rs 245 (165 issue price plus 80Rs interest cost). This itself gives tremendous comfort to the retail investor.