IPO of Everonn Systems India Limited, which opened on 5th July, has already been
subscribed 0.9 times in retail portion. Rather unusual, considering the fact that it will be
open to bids for 3 more days. Retail investors in India have been known to wait till the last
day of the bidding, even for the issues subscribed around 40 times. Very rarely
does the retail portion gets fully subscribed before the last day. So what's in store for
Everonn? A 100 times subscription in retail segment ;-)
On a different note, DLF got listed and is currently trading at 10% premium from its
issue price. Much better listing than GMR, which was panned prior to its IPO by analysts
who, I am sure, are yet to get their feet outta one of their natal holes. Or may be they
did it to distract everyone so that they can buy it in lumps?
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