Standard Chartered PLC IDRS Message Board (Page 15)

Total Issue Size 204000000
Total Bids Received 521200
Total Bids Received at Cut-off Price 247400
No. of times issue is subscribed 0.00

Current price of IDR at LSE is RS. 106.143 per IDR.

Standard Chartered annualized EPS for CY 2009 on post-issue equity works out to Rs 79.5 per share or Rs 7.9 per IDR. At the price band of Rs 100 to Rs 115 per IDR (without considering discount of 5% to retail Investors) P/E of IDR is 12.6 to 14.5 times. Taking in to account, the premium from the fresh IDR issue, post-issue Book Value per IDR is Rs 63.7 and Rs 63.9 at issue price of Rs 100 and Rs 115, respectively. P/BV at both the bands works out to be 1.6 and 1.8 times, respectively.

Comparing Standard Chartered with any Indian bank will not be proper as none of the Indian banks has scale of international operations as Standard Chartered. Moreover, the peer group for Standard Chartered will be global banks and not Indian banks and, hence, the price of the Standard Chartered share will be decided on other global exchanges.

The current share price of Standard Chartered on the London Stock Exchange (LSE) is 16.20 GBP (Rs 1092.22) and on the Hong Kong Stock Exchange (HSE) 185 HKD (Rs 1110.00). The three-month, six-month and one-year average price on the LSE is GBP 17.21, GBP 16.20, and GBP 15.27, respectively, while that on the HSE is HKD 202.29, HKD 196.65 and HKD 192.1, respectively. The average three-month, six-month and one-year premium/discount on the HSE compared with the LSE is 0.3% premium, 1.61% discount and 0.6% premium (with a range of -6.2% to 7.3% in the one year period ended 23 May 2010).

The Indian IDR can trade at premium/discount to price on LSE/HSE depending on liquidity and interest in the scrip on Indian exchanges. Notably, domestic insurance companies, which are major investors in banks, cannot hold IDRs. FIIs may prefer buying Standard Chartered on the HSE or the LSE, especially due to restricted fungibility of IDRs in India. Retail/HNI investors may also not prefer Standard Chartered IDR due to higher taxes involved in holding and trading.

Moreover, Indian investors have enough choice with so many Indian public and private sector banks listed and the domestic growth story considered as far superior and safer than the global growth story. Hence, the possibility of IDRs trading at discount to the HSE/LSE is high.

The price of the Standard Chartered IDR on Indian stock exchanges will be substantially determined by the prevailing price of Standard Chartered on the LSE and HSE and relative exchange rate between UK, Hong Kong and Indian currency. Global economic, political and stock market conditions will have more influence on the IDR price than Indian economic, political and stock market conditions. If the IDR gets priced near the prevailing market prices on LSE/HSE, the 5% discount to retail investors will leave little cushion in view of the high volatility currently prevailing in global markets and possibility of IDR trading at discount to the LSE/HSE share prices post listing.

CAPITAL MARKET-45

sc-plc will be listed around 140-165

sensex 1 month target 12200 , 3 month target 8870 and 6 month target 6000 ,i think these target well achived certainly ,urope and yuro problem is very large than earleyer subprime problem of U.S.A ,maney counteries are in the corner of DEFALT.fiis are in very hard time ,if they sell 50% of his current holding in india ,sensex can godown below 6000 marks .

what is the minimum quantity which we have to buy can we purchase one single IDR

all 4 rating kay shares dhool chaat rahay hi,ab yah ha ha ha.

STANDARD CHARTED IDR IS QTING AT RS 0-2 IN DELHI GREY MARKET AS THE INVESTOR REMAIN VERY CAUTIOUS. AS AFTER VERY POOR LISTIN SJVN.

Lot Siz : 200

Rating: CRISIL Grade 4/5

Standard Chartered allots 3.6 cr IDRs at Rs 104/IDR to anchor investors
ICICI Prudential Discovery Fund and ICICI Prudential Infrastructure Fund have picked up 13.35 per cent each of the 3.6 crore shares allotted to the anchor investors, Reliance Growth Fund has bought 10.68 per cent stake and HDFC Prudence Fund has picked up 7.75 per cent.

BYE

in this issue no insurance co will invest as they are prohibited by irda

no fii will buy as they have option to buy at LSE AND HSE pay lower STCG LTCG and nil divident tax there than to buy in india

subscription will be less i think

why worry about taxation portion, there is no tax on loss, ha ha ha ha
if u will not make money in this idr then no qstn of tax.

its a good issue at 100 only

pl inform rating of this issue crisil/icra/ cm.

Min 200 lot means. if u invest min. on listing it will goes down by 50%

refer to IPO ANALYSIS OF INDIA BULLS .COM REFER TO CLAUSE (WEAKNESS TAX IMPLICATION )INDIAN IDR are not entitled to tax benefits`available to Indian stocks , idrs are taxed at 20% for long term capital gain tax and 30% to short term capital gain tax moreover dividend if declared will also be taxed for dividend distribution tax

@32 Mr Rakesh
considering 52 week high low for any listed securities & Stanchart's 1 share for 10 IDR rate is Rs124 & Rs74. Is it a good bet then NMDC NTPC or other FPO on the basis of 52 week high/Low rates ? also we have to keep in mind about financial freedom available to foreign banks in their country resulting in Lehmen type fiasco. It's PE is no way comparable with sound indian banks who are safe from global banking bankruptcy & subprime loan concerns . In my opinion issue is avoidable at current price in current global finacial market n financial stocks situation.

STAN.L on London Stock Exchange

1,633.00GBp
11:35am EDT
Price Change      (% chg)

20.00p (+1.24%)
Prev Close
1,613.00p
Open
1,636.00p
Day's High
1,645.00p
Day's Low
1,598.00p
Volume
5,240,175
Avg. Vol
8,048,559
52-wk High
1,848.00p
52-wk Low
1,115.00p

dear all,idr will list at par

Listing will be at rs. 66, sensex may go down more than 5000 marks within 2 month, avied all ipo/fpo/idr/pigs etc.

DEAR 27 & 28
correct your self. rates given by you for 52 weeks high and low are in Pence. so the rate in Indian Rupees comes to Rs 1240 - 750. current price is Rs. 109.30 so no margin left for Indian Public.

DON'T APPLY OTHERWISE YOU KNOW THE RESULT

MY VIEW ABOUT STAN CHART: WE ARE APPLYING TO FOREIGN BANK SHARES THROUGH IDR. IT'S SHARE IS LISTED ON LONDON STOCK EXCHANGE.EVEN AT LOWER PRICE BAND NOT GREAT MARGIN OF SAFETY. I EXPECT FULL ALLOTMENT TO RETAIL.