10 May 07 Binani Cement IPO Subscription Details : IPO Issue Oversubscribed
Binani Cement IPO closed for subscription today. The Binani Cement IPO finally got oversubscribed in the fag end of today’s IPO market close. The subscription / oversubscription rates are pathetic, to say the least. This confirms the fact that the binani cement IPO was highly overpriced. The High net worth individual category which gets the highest oversubscription ratio in good IPO’s, was undersubscribed in the case of Binani Cement IPO. The high networth individual category was subscribed less than 0.78 times. The retail individual category was subscribed 1.62 times (oversubscribed 0.62 times) and the institutional investor category got a subscription rate of 1.32 times, making this category oversubscribed by just 0.32 times. Overall, Binani Cement IPO recieved a subscription of 1.36 times the IPO issue size. Hence, the Binani Cement IPO has been oversubscribed by just 0.36 times. Binani Cement IPO has violated atleast 2 of the conditions mentioned in the post titled Eight Tips for Retail Investors for applying in IPO for Listing Gains
1) Institutional Investor Category Subscription in Binani Cement IPO is less than 5 times.
2) Institutional Investor Category subscription in Binani Cement IPO is less than the retail investor category subscription.
Binani Cement looks like its headed for a bad listing. Good luck to those who have invested in the Binani Cement IPO. The listing date of Binani Cement is likely to be somewhere in the end of May. Binani Cement will list both on the NSE and the BSE. Investors who have invested in the Binani Cement IPO can expect the IPO refund in the last week of May through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Binani Cement IPO and the detials for checking the allotment status online will be posted here as soon as they are available.
Binani Cement IPO Price : Binani Cement Limited has fixed its IPO issue price at Rs.75 per share which is at the lower end of the IPO price band of Rs.75 to Rs.85
Related Posts
Reader's Comments
Leave a Comment
Hey,
anyone knows the listing date for binani cement?
Hello Varun, the binani cement limited listing date has not yet been announced
listing date of binani cement
Dear sir / Madam till date i have not received my Binani ipo refund.I have applied for 160 share @85 & company had alloted me 145 share @ 75 / so balance refund of Rs 2725 tiil date i have not received.
Thanks
Amit Dawani
09825805146
@ Amit – It is likely that the refund order has been lost in transit. I suggest you call or fax the registrar and ask for a re-issue of the refund order. The phone and fax numbers would be available in the registrar’s website.