08 Jun 07 Nelcast IPO Subscription Details : IPO Issue Oversubscribed
The subscription for Nelcast IPO ended today. The Nelcast IPO has done pretty well. Retail investor category in the Nelcast IPO has been subscribed by 4.6 times (oversubscribed by about 3.6 times). Hence investors who applied in the Nelcast Limited IPO for maximum shares allowed under the retail investor category will get firm allotment. The high networth individual category in the Nelcast IPO has been undersubscribed by about 0.07 times (subscribed 0.97 times). Hence those investors who applied in this category would get full allotment. The IPO system hasn’t yet fully evolved in India. Though Indians make softwares for NASA, NASDAQ and other prestigious international organisations, we still don’t have a basic software to view the IPO subscription status on a real-time basis. If investors knew that this category was undersubscribed then I’m sure many investors would have applied for the Nelcast IPO under the institutional investor category and not through the retail investor category. Nelcast IPO has received good response from the institutional investors. The institutional investor category in the Nelcast IPO has received a subscription of 11.2 times the IPO issue size (oversubscribed by about 10.2 times). Overall, the Nelcast Limited IPO has been subscribed 7.36 times (oversubscription ratio : 6.36 times).
Personally, I feel Nelcast IPO will provide decent listing gains on the day of listing. The listing date of Nelcast Limited is likely to be somewhere in the first week of July. Nelcast Limited will list both on the NSE and the BSE. Investors who have invested in the Nelcast Limited IPO can expect to receive the IPO refund in the fourth week of June through ECS. Allotment is likely to be made a few days before the listing date. The allotment status of Nelcast IPO and the details for checking the allotment status online will be posted here as soon as they are available.
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hi bullish, would u plz advise when the refund will come from nelcast and by what mode (directly credit to a/c or cheque)?. i had hard time getting refund from time technoplast because they send it through cheque, n u know i’m based in dubai.
rgds, alam
@ Alam – Nelcast IPO refund is likely to be sent on the last week of June. You will receive the refund through ECS if that facility is available in your city and if you have updated your ECS details with your DP. If not refund will be sent through regular post/courier depending on the refund amount.
hi bullish, thanx for quick response! my dp is icici bank and branch is patna (exhibition road), as u work in icici, do u know that whether they have ecs facility in that branch?
rgds, alam
@ Alam – You are welcome. ECS facility is available in the Patna Branch. I was referring to the facility offered by depositories for receiving refund through ECS. Refund thro ECS facility is provided by the depositories (nsdl and cdsl) only in select cities. The details of the same would be available in the RHP.
thanx again! i wud appreciate ur help in guiding me how i can update my information with depositories, and also explain RHP stand for what? silly! but excuse me – newcomer.
@alam – RHP = Red Herring Prospectus. You need to visit your depository participant and fill up the form, sign it, attach a cancelled cheque and give it back to him
Hi Bullish,
My DP is icici bank and (jabalpur,M.P.)do u know that whether they have ecs facility in that branch(For IPO Refund)?
Regards.
@ Jain – I’m sorry. I have no idea abt tht branch.
Hi ,
This is krishna i applied for nelcast IPO but many of the friends they got message shares are alloted .But i applied thruough KOTAK thru online…If need to see allotment online where i can see…Please advice how and where i need to check the allotment status…
Hi krishna,
U have to Login to ur online demate account, go to “demate allocation” section account,then go to “ALLOCATE”.
U will get a new entry as “NA”,showing no of shares alloted.
Alternately, u should call to registar of Nelcast IPO, during office hours.The computer system shell ask ur application no.,& then will tell u the allotment states.
i have not yet received refund from nelcast and i’m not expecting any allotment to me as i had bid at lower price band. can anyone provide me contact details of registar of the IPO?
Hi,
I have applied for Nelcast IPO and got some shares. When can I get the remaining amount refund to me.
Chakradhar