Money Tree

The ICRA stock has been listed today at Rs. 540 as against its issue price of Rs. 330 per share. The stock has made a low of Rs. 540 and a high of Rs. 651.80 till 11.00 a.m. Currently the stock is quoting at Rs. 645.

The Shares of Orbit Corporation have been listed today at Rs. 113 as against its issue price of Rs. 110 per share. The stock has made a low of Rs. 110.15 and a high of Rs. 137.60 during the day.

IPO of ICRA was opened on 20th March 2007 and till yesterday it was oversubscribed 2.45 times. The company has issued 25,81,100 equity shares in the price band of Rs. 275 to Rs. 330. The issue is closing tomorrow on 23rd March 2007.

The public issue of Orbit Corporation was opened on 20th March 2007 and in the first two days the issue was subscribed only 0.09 times. Out of the total of 3185000 equity shares reserved for retail investors bids were received for only 55400 equity shares in the first two days and no bid has been received in the QIB portion. The issue will close tomorrow on 23rd March 2007.

The shares were issued at a price of Rs. 115 per share and the stock has been listed today at Rs. 103 at NSE. It made a high of Rs. 113.65 and a low of Rs. 100 in the morning. Currently at 12.05 p.m. the stock is trading at Rs. 106 per share.

AMD Metplast has been listed at Rs.73 at NSE today. The allotment was made at Rs. 75 and the issue was offered in the price range of Rs. 65 to Rs. 75. The issue saw an oversubscription of 4.88 times. Currently (at 10.53 a.m.) the stock is trading at Rs. 78.75 just managing to keep its head above its issue price. The stock has made a low of Rs. 70 and a high of Rs. 82.65 in the morning.

Abhishek Mills is listed today at Rs. 85.15 at NSE against its issue price of Rs. 100. The stock has made a high of Rs. 93 and a low of Rs. 78.15 as of now. Currently the stock is quoting at Rs. 82 at 10.45 a.m. The issue was offered in the price range of Rs. 90 to Rs. 110 and was oversubscribed 1.24 times.

The year 2007 is not good for new issues. Most of the IPOs of 2007 are trading much below their issue prices. We have compiled some data on the recent IPOs issued in the first quarter of 2007 hereunder to give you an overview of the performance of these IPOs. As per the closing prices of 16th March 2007 only 9 out of the 28 IPOs listed below are in profits and among these only Idea, Mindtree, Redington, Global Broadcast, Pyramid saimira and Tanla Solutions have given good profits. If you look at the subscription figures given hereunder, these are the IPOs which were highly oversubscribed and the worst performing IPOs are the ones which received just sufficient applications to fully subscribe the issue and all the applicants got a firm allotment. Vijeswari, Indus Fila, Cairn, etc. fall in this category. However, we do not mean that figures of oversubscription are any indication to the listing price, but it tells you the demand and supply situation and the stocks which have high demand are bound to move up as those who did not get any allotment would try to grab their picks on listing.

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Page Industries has been listed today at Rs. 329 as against its issue price of Rs. 360 and currently the stock is quoting at Rs. 305 almost 15 percent down from its issue price. The stock touched a high of Rs 339 and a low of Rs. 270 early in the morning.

Raj TV has been listed at Rs. 225 and currently it is quoting at Rs. 218. The shares were issued at a price of Rs. 257 per share and currently the stock is almost 14 percent down from its issue price.