Hi All - I have never applied for SME IPO, But want to do so. However, my broker icicidirect informed that I cannot sell SME shares using icicidirect. Also, inquired at Kotak securities and they also donot support selling of SME IPO shares online.
Curious to know, how do you guys sell SME IPOs? Is there any online broker for the same? Please share so that I can also start trading in SME IPOs.
The initial public offering of Indore-based InfoBeans Technologies was subcribed 31 times. The IPO of the company, which is raising funds through the NSE-Emerge SME platform, received bids for over 19.85 crore shares (or Rs 1,100 crore) as against its offer size of 63.48 lakh shares (Rs 36.8 crore) on Friday, the last day of the offer.
The portion set aside for qualified institutional buyers got subscribed 1.71 times. However, non-institutional investors (widely known as high net worth individuals) subscribed over 1.90 times and retail investors over 26 times the shares set aside for them. Priced @ Rs 58/share
The Rs 10-face value share was offered at an issue price of Rs 58 in a market lot of 2,000 equity shares and in multiples thereof. It opened for subscription on April 18.
The proceeds of the issue will be used to fund acquisition and other strategic takeovers, technical development, investment in subsidiaries, advertising and sales promotion, general corporate purposes and issue expenses.
Sarthi Capital Advisors was the Merchant Bankers to the issue.
Promoted by Siddharth Sethi, Avinash Sethi and Mitesh Bohra, InfoBeans offers business application development for web and mobile, i.e., custom application development, content management systems, enterprise mobility and providing custom developed services to offshore clients.
Investors this time apply in NII quota and not RII ..... Coz it will be heavily subscribed in retail and allotment will be tough rather put only 2 lots and go for NII quota
Pls advise how one should apply to maximise chances of allotment, 2000 shares only OR for full qty in retail segment OR any qty greater than 2000 shares OR under HNI above 2000 shares
Dear Gala ji, Plz help me on the applying strategy- i have 3 different DEMATs with full family and capacity to apply for 4 lots. What should be a good strategy -(1) to apply for 3 different application of 1 lot each in RII or (2) to apply for 2 different application of 2 lot each in NII?? Is the allotment criteria same for both the category e.g one lot to each applicant through lottery in case of over subscription?
What is the procedure for applying in HNI...Do i just need to select 2 lots...is that it...or is there some formality to be done at bank? Kindly advise
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April 25, 2017 4:00:18 PM
IPO Guru (1300+ Posts, 500+ Likes)