03 Aug 07 Purvankara IPO Price Band revised
The price band for the Purvankara IPO has been steeply reduced because of the very poor response it received from investors. As of 4 PM today the Purvankara IPO has been subscribed by less than 0.35 times with most of the bids coming at the lower end of the price band. There seems to be very low participation from the institutional investors. Since Purvankara IPO issue size is over 1000 crores and since real estate stocks have taken a beating in the secondary market this week, investors are wary about investing in the Purvankara IPO. Hence the investment bankers managing the Purvankara IPO have reduced the price band for the IPO steeply from Rs. 500 - 525 per share to Rs. 400 - Rs.450  per share. The Purvankara IPO will now close for subscription on August 08, 2007.
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SIR,
I INVESTED FOR 30 SHARES ON RS:525/- BUT REDUCED RS:400-RS:450,HOW OUR AMOUNT CALICULATEING FOR ALLOTMENT OF SHARES.
Hi Bullish Indian,
Firstly, A great blog and a great source of information on the IPO front. Thanks & keep up the good work
I have the same question as that of Amba Shankar.
If I had applied for Purvankara at cut-off, how will my shares be allocated now, considering the 400-450 range?
Dear amba.
if one make a cut-off bid for 190 shares and deposit Rs 99750 then in the revision price band bid for 190 shares will still be active @cut-off price. One would get the remaining amount i.e. Rs 14250 as refund after the share allotment has been done. In your case your bid for 30 shares will be considered @450 since you showed a willingness to buy @525.
I hope this clears you query. You cannot remove you runlike FII’s or mutual funds so you are stuck with purvankara. My best wishes to you for the listing. It might have a deccan aviation kind of a listing.
Happy Investing,
Ris
Hi Rishabh,
I had not applied for Purvankara. Do you think with new reduced price bad it is worth investing?
Thanks.
hello sir ,
i need to know the pe ratio of purvankara projectr ltd. of current year.
Hello sir,
Till today purvankara has not registerd in BSE why ?
how can i know ipo primum?