Performance of Newly Listed Shares 17th September 2010

Name Date of listing Issue Price closing  price closing price % gain loss  change over
17th Sept 9th Sept over week  lssue price
SKS MicroFinace 16th August 985.00 1396.20 1273.00 9.68 41.75
Bajaj Corp 18th August 660.00 723.35 730.05 -0.92 9.60
Prakash Steelage 25th August 110.00 155.1 161.05 -3.69 41.00
Gujarat Pipavav Port 9th Sept 46.00 53.95 54.05 -0.19 17.28

Tirupati Inks IPO subscribed

Tirupati Inks Limited which had tapped the capital markets with an IPO to raise Rs 51.50 crs in a price band of Rs 41-43 was oversubscribed. The issue had opened on Tuesday the 14th of September and closed on Thursday the 16th of September for QIB’s and on Friday the 17th of September for HNI’s and retail investors.

These days there seems to be a new trend emerging where the issue which seems to have poor fundamentals is well received and subscribed. It then lists and trades at a substantial premium to the issue price and after a few days to a few weeks, slowly but surely slips to below issue price. This is becoming a trend or pattern and the number of people who get trapped in such issues post listing when it falls is increasing continuously.

Details of the subscription where the issue was oversubscribed 8.77 times are given below.

Category Shares Offered Shares Subscribed Times
QIB 4876829 8661000 1.78
NII 1463049 33918000 23.18
Retail 3413780 42982500 12.59
Overall 9753658 85561500 8.77

Eros International Media IPO: Anchor Investors

Eros International Media Limited which is tapping the capital markets to raise Rs 350 crs in a price band of Rs 158-175 completed its anchor investor allocation today at a price of Rs 165. The issue opens on Friday the 17th of September and closes on Tuesday the 21st of September.

A total of 36 lakh shares have been allotted to 8 entities at a price of Rs 165.

The complete list of institutions who have been allotted shares is given below.

Sr. No. Name of the Anchor Investor No. of Equity Shares Allocated % of Anchor Investor Portion (%)
1 Citigroup Global Markets Mauritius Private Limited 575,757 15.99%
2 The India Fund Inc 606,061 16.84%
3 IDFC Tax Advantage (ELSS) Fund 59,800 1.66%
4 IDFC Small and MIDCAP Equity (SME) Fund 661,412 18.37%
5 Indea Capital Pte Limited A/C Indea Ankam Master Fund 60,606 1.68%
6 Lloyd George Investment Management (Bermuda) Limited A/C LG India Fund Limited 424,242 11.78%
7 Indus Capital Adviser (UK) LLP A/C Indus India Fund (Mauritius) Limited 606,061 16.84%
8 Lockheed Martin Corporation Master Retirement Trust 606,061 16.84%
Total 3,600,000
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