Joydeep R Ray and Lohit Bharambe investigate covertly the entire ongoing IPO fever and subsequent depression in case of not being allotted stocks in the recent blockbuster IPOs. After carrying out a through analysis and secure information from various stakeholders, they bring this report:
Resident of Viman Nagar in Pune, Swapnil Shinde has been blaming his 'luck' last three months. He had filed applications thrice to subscribe IPOs floated by three different companies including the most buzzing one of a hyper-mart chain and never he got a single share allotted in his Demat account. He picked up the right ones, filed the applications as per procedure laid down by market regulator SEBI, opted for ASBA facility through his bank but on the day of listing he realised, 'luck' did not work in his favour. Shinde has now decided not to apply for IPO as he is not 'lucky enough.'
Hailing from Mehsana district in Gujarat, Jagdishbhai Nathabhai Patel had borrowed a good sum of money from his friends to apply for a recent IPO. Two days before the gala listing ceremony took place on the bourses and the stock of that company rocketed up by over 120 per cent, Patel was shocked to receive a text message from BSE telling him that he did not get a single share allotted. Patel had made his graduate son fill up the physical form to subscribe the IPO, got it checked by a local stock-broker's assistant, made the cheque payment as needed--everything was in line with this expectations except zero allotment.
This story is from the April 16 2017 edition of Dalal Street Investment Journal.
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This story is from the April 16 2017 edition of Dalal Street Investment Journal.
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