Navkar Corporation is a logistics company that has got its IPO oversubscribed recently. The 600 crores initial public offering of the Navkar Corporation was oversubscribed by 2.8 times on the last day of its subscriptions. The IPO of some major companies like Pennar engineered building systems and Shree Pushkar chemicals and fertilizer have seen a 7% and 46% rise in the IPO on the very second day of their issues respectively. The Initial Public Offering of these companies are doing good and the over subscription of the IPO of Navkar Corporation was an unexpected one in the market.
IPO Received 8 Crores Bid
The IPO has received the bid of about 8 crore shares which is very high when compared with the total of 2.86 crore shares available for the offer in the market. This is nothing but the subscription of 2.8 times higher. This was the data available with the National Stock Exchange till 5:00p.m in the evening. The bidding of the IPO that has actually started on the August 24 would be ending on the particular day of this event. The price band of the IPO was already been fixed by the company and it was from Rs.147 to 155 per share.
The retail portions have got a subscription of about 60 per cent and the Qualified Institutional Buyers and the non institutional investors have subscribed about 19 percent and 2 percent of the shares respectively says the data. The company is now planning to get it mobilized with the IPO fund rising of about Rs.510 crores. This fresh equity would be done through the sale of the existing shares, says the company officials and the fresh IPO can be expected soon. According to the data available, the Navkar Corporation has finally managed to meet the oversubscription at the last day, but the Shree Pushkar and Pennar are still meeting up with the heat in the market due to volatility.
Indian market IPO in current situation
According to the data received from the sources, the Indian market is doing well with the IPO. Though there are lots of various other markets are facing so many problems with their IPOs and other tradings, the Indian market still stands separate from the back drops from the other markets. This shows the stability of the market and the norms followed by the Indian market makes it more stable. The SEBI is also working with more stable trading strategies and ideas that could avoid the risky situations in the market.
It is expected that the more stable marketing norms by the SEBI will be into action soon for the IPOs and Algorithmic trading too. Considering the algorithmic trading, the market is still lagging in certain parts where the chances of risks seem to be high. Thus the regulatory body SEBI has worked on this and is getting the new norms soon for the better stable environment of the market. The experts also say that the algorithmic trading will do well once the new norms were set and are implemented successfully in the market.
IPO Received 8 Crores Bid
The IPO has received the bid of about 8 crore shares which is very high when compared with the total of 2.86 crore shares available for the offer in the market. This is nothing but the subscription of 2.8 times higher. This was the data available with the National Stock Exchange till 5:00p.m in the evening. The bidding of the IPO that has actually started on the August 24 would be ending on the particular day of this event. The price band of the IPO was already been fixed by the company and it was from Rs.147 to 155 per share.
The retail portions have got a subscription of about 60 per cent and the Qualified Institutional Buyers and the non institutional investors have subscribed about 19 percent and 2 percent of the shares respectively says the data. The company is now planning to get it mobilized with the IPO fund rising of about Rs.510 crores. This fresh equity would be done through the sale of the existing shares, says the company officials and the fresh IPO can be expected soon. According to the data available, the Navkar Corporation has finally managed to meet the oversubscription at the last day, but the Shree Pushkar and Pennar are still meeting up with the heat in the market due to volatility.
Indian market IPO in current situation
According to the data received from the sources, the Indian market is doing well with the IPO. Though there are lots of various other markets are facing so many problems with their IPOs and other tradings, the Indian market still stands separate from the back drops from the other markets. This shows the stability of the market and the norms followed by the Indian market makes it more stable. The SEBI is also working with more stable trading strategies and ideas that could avoid the risky situations in the market.
It is expected that the more stable marketing norms by the SEBI will be into action soon for the IPOs and Algorithmic trading too. Considering the algorithmic trading, the market is still lagging in certain parts where the chances of risks seem to be high. Thus the regulatory body SEBI has worked on this and is getting the new norms soon for the better stable environment of the market. The experts also say that the algorithmic trading will do well once the new norms were set and are implemented successfully in the market.