Yes,I know the IPO of Pipavav Shipyard Ltd is oversubscribed and it closes today…..but pip-avoid Pipavav Shipyard
The IPO Price band of Rs 55-Rs 60 for an Equity Share of Face Value of Rs 10 is obscene in the first place and this 11 year old (an adult in context of Corporate Existence !) child is tapping at your car window with the traffic light at red and begging you for Rs 60 !..Red means Stop!…Stop even considering this IPO
God help those who were placed shares at Rs 80 pre-IPO !
I’m convinced you’ll get it at Rs 40 and even lower in the secondary market,when you can consider some exposure if you like the Sector and the Company’s Business Model and Prospects…I remain very skeptical though….an ex-head of a leading Institution who has dealt with this Company in the past supports my View…says he,”Avoid”…and it’s not just the Obscene Pricing that’s bothering and putting off both of us