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POSTED BY ON October 14, 2010 4:21 pm COMMENTS (6)
Coal India IPO – Experts’ opinion on this much awaited largest IPO and its future prospects in this bull market?
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me 2 partial :)))))
@Rakesh… Congrats… I booked my full profit. Never seen 16K profit on a 1K investment in 20 days time.
I am very very happy that govt proved me wrong in this…
Coal India surges 31% on listing.
Happy Diwali to all investors who were alloted shares.
Overall 36% profit under 2 weeks [31% listing + 5% retail discount].
Booked part profits.
Rakesh
@vazzy
PSU issues have traditionally created excellent value for the ‘buy and hold’ kind of investor (min 3 years) rather than the one looking for mere listing gains.
Rakesh,
Don’t go by the grey market premium… just look at the recent listings… all those stocks which got heavy subscription and had very good grey market premium listed with very little profit and are now trading below/near their offer price. (EROS, TECHPRO, Ashoka Bui etc….)
Whereas the stock which had very low grey market premium had spectacular listing. (*&(* ISpat and yesterday listing (Bedmutha ind, )
COAL IND is a very big IPO and GOVT is the promoter hence operators may not able to play on these IPO’s. Listing might be muted but you may need to hold on long if you really beleive in Govt. 5% discount would evaporate easily in a small market correction.
Note:
Only way to make money in govt IPO is to HOLD it for long term.
Disclosure:
I too will apply for 1 full application.
Seems to be fairly priced but this issue will be fully subscribed many times in the retail segment. Lot of retail investors are waiting to apply. I too will be applying. If we get any allotment we should be lucky. There are rumors that the grey market premium is Rs. 4000 per application.
Rakesh