Wednesday, 16 September 2009

Pipavav IPO fully subscribed: Should you invest?

Pipavav Shipyard has opened its initial public offering (IPO) of 85,450,225 equity shares of Rs 10 each for subscription today. It has been subscribed 1.42 so far and has received bids for 9.9 crore shares as against the issue size, as per the data available on the NSE website..

It will raise nearly Rs 513 crore at higher end of the price band Rs 55-60 per equity share. The issue will close for subscription on September 18, 2009.

Moneycontrol conducted a poll whether to subscribe the issue or not. All experts recommended avoiding the issue while SP Tulsian and Avinash Gorakshakar recommended subscribing the issue.

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.