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NHPC will open for subscription today with an IPO of 167.73 crore equity shares of Rs 10 each. Udayan Mukherjee, Managing Editor, CNBC TV18, said strong market was always supported for an IPO but even if that didn't happen, NHPC shouldnt have any problems.
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The NHPC IPO has been nearly doubly subscribed and expressing her view on the same Sanju Verma, CEOInstl Biz, Proactive Universal Group said that NHPC was an avoid from a valuation perspective and added that NHPC at 21 times forward earnings was at Rs 36 per share. Verma said that NTPCs return on equities would always be 7% higher than NHPC.
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Haresh Soneji of CNBCTV18 said funding for NIIs (noninstitutional investors) available at 20 times their initial investment amount. If one was applying with Rs 2 crore and NII category subscribed 25 times, his breakeven at Rs 40, which is 10% premium to the issue price of Rs 36 assuming at the higher band.
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Jindal Cotex is coming out with an initial public offering (IPO) of 1,24,53,894 equity shares of face value of Rs 10 each for cash at a price of Rs 7075 per equity share aggregating Rs 87.1893.40 crore, as per the RHP (red herring prospectus) filed by the company with the market regulator SEBI.
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Adani Power listed on the stock exchanges today but met with a lukewarm response. Experts say that the next power company queued up for listing, governmentowned NHPC, will see a definite impact, especially on its grey market premium.
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Jindal Cotex has opened for subscription with an initial public offering (IPO) of 1,24,53,894 equity shares. Moneycontrol.com conducted a poll whether one should subscribe to the issue or not. Experts were not happy with the issue pricing.
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The initial public offer (IPO) season is in full swing and the next primary offering from the shipping industry comes from Pipavav Shipyard. CNBCTV18s Varinder Bansal and Gautam Broker went to Pipavav Shipyard to meet the management and check out the ground reality.
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NHPC witnessed a lackluster trade and ended its first trading session at a premium of 2.08% to its issue price of Rs 36. The share closed at Rs 36.75 on the NSE.
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Globus Spirits' IPO closes today for subscription and not yet subscribed fully. Managing Editor of CNBCTV18, Udayan Mukherjee said Globus Spirits did not seem terribly bad fundamentally and seemed like a reasonable midcap bet or smallcap bet for people who are so inclined.
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