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.
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
Source: 2016-17 Annual Report of Sarda Energy & Minerals Ltd
The profits are 20% of the consolidated profits of the Company.
Indigo’s 40% market share of domestic aviation is comparable to Maruti’s 50% market share of domestic passenger vehicles.
Source: HSBC Research Report on Aviation
Around 11:20 am today, well known PMS fund manager Porinju Veliyath tweeted as below:
AllCargo @ 170, one of the largest logistics company, an underperformer priced at Rs.4000 Cr seems to be at an inflection point. Explore yourself. We hold in PMS & AIF. https://t.co/kUTFByyPMF
— Porinju Veliyath (@porinju) November 29, 2017
The effect on the stock price was immediate
