Astron Paper,a Kraft paper manufacturer, has come out with an IPO in the price band of Rs.45-50 per share
What is interesting is the shrewd way the merchant bankers have done the allocation- around 10% of the shares offered is to institutions and a whopping 52% is to HNIs.
The merchant bankers probably felt that HNIs with the help of IPO financing will ensure their IPO sails through.
Wonder if this will be a trend setter for other mid-sized IPOs.
Some stuff I am reading today morning:
Toyota eyes India for its electric vehicles (ET)
Bitcoins: IT Department to issue notices (Mint)
IPO Review: Astron Paper (S P Tulsian)
Nandan Nilekani: Mr.Congeniality (Forbes)
Dr.Devi Shetty: Healthcare’s change agent (Intelligent Fanatic)
Best Idea Wins (CS)
Investing in a world of over priced assets (Jeremy Grantham)
8 Great ways to spend money (White Coat Investor)
Small Gains+Large Risks=Terrible Results (Tony Isola)
One rule of investing that has served us well (Einhorn)
Jyoti Structures is hitting the Upper Circuit in the last two days.
It was in the news recently for getting a bid from a bunch of HNI investors for taking over the company under India’s Insolvency and Bankruptcy Code.
What is strange is that this key development, which has the potential to wipe out existing shareholders, has not been reported to the stock exchanges
Quite ironic that investors are being kept in the dark when the name of the company is Jyoti i.e. Light
There's a new bank in town guys – Hindustan Copper. Approved by SEBI with a swift CTRL+C and CTRL+V. pic.twitter.com/ZZPoZWizuR
— Leading Nowhere (@leading_nowhere) December 18, 2017
