09 Aug 07 Purvankara IPO Subscription Details : Full Allotment for Retail and HNI
The Purvankara IPO closed for subscription today. Even though the IPO price band was significantly reduced from the price band initially fixed, the Purvankara IPO failed to generate significant investor interest. Overall, the Purvankara IPO just managed a subscription of 1.91 times, (oversubscribed 0.91 times). The retail investor category in the Purvankara IPO got subscribed by only 0.64 times (undersubscribed by .36 times). Institutional investor category in the Purvankara IPO has been subscribed only by 2.69 times (oversubscribed 1.69 times) and the High Networth Individual category has been subscribed by over 0.99 times (undersubscribed by .01 times). Since the retail investor category and HNI category remained undersubscribed all investors who applied under the retail investor and HNI category will get full subscription. Purvankara IPO is likely to have a bad listing and is unlikely to provide listing gains. However, over the long term Purvankara is likely to generate decent returns to investors. Purvankara is a fundamentally strong company having a decent track record and financials to back it up. It has significant presence in tier 1 cities where the real estate sector is in the midst of a very strong boom. The listing date of Purvankara is likely to be somewhere in the fourth week of August. Purvankara will list both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors who have invested in the Purvankara IPO can expect to receive the IPO refund in the fourth week of August through ECS (in cities in which refund through ECS facility is available). Allotment is likely to be made a few days before the listing date. The allotment status of Purvankara IPO and the details for checking the allotment status online will be posted here as soon as they are available. Good luck to all those who applied in the Purvankara IPO.
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How would i know the allotment status through internet?