23 May 07 Time Technoplast IPO : Apply at Cut Off for Listing Gains
I just applied for 600 shares (2 applications of 300 each) of time technoplast at cut off. As of 12 noon today, the Time Technoplast IPO has been subscribed by about 11 times (oversubscribed 10 times). Retail subscription is roughly estimated to be 2 times the issue size as of 12 noon. Most applications from retail investors come between 2 pm and 5 pm on the closing day. Based on this retail investor category might see an oversubscription of 15 -20 times. The Time Technoplast IPO has recieved good response from institutional investors also. Hence listing gains will be high. However, chances of getting allotment will be low if retail category gets subscribed by over 20 times.
3 PM update: As of 3 PM, retail has been subscribed 7-8 times (approx). Overall subscription 35 times. Apply aggressively!
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Dear Bullish Indian,
I do not think that over subscription will cross 20 times.Most probably it will be oversubscribed by 10 to 15 times.I request you to post your advise well in advance so that we can benefit.In qib and hni category it is already subscribed 24 times till 1 p.m.I will not be surprised if over subscription in this category crosses 50 times.
@ Ashok – I really wish retail isn’t oversubscribed too heavily. I already missed allotment in MIC electronics. Don’t want the same happening again.
I usually wait till 1 PM on the closing day to decide whether to apply in an IPO or not. It shouldn’t be like I advise others to apply and later they end up losing money, taking my advice. Hence I prefer to advise only after subscribing to an issue myself.