The JustDial IPO has opened and at the end of the first day, has only 50% of the shares bid till now. About 67 lakh shares (6.7 million) of the 1.75 crore shares (17.5 million) have been bid for. Bids at various price points are as follows:
Interestingly, no mutual fund or domestic institution has invested (yet). Nearly all the bids have come from FIIs, and most bids of those are at Rs. 530 per share.
The demand chart has been derived from the NSE+BSE data, and the total demand at a price is shown in the second column. (If there is a bid at 475, it’s obvious that bid is valid at Rs. 470 as well, so the demand at 470 includes all bids above it)
There has been no hype at all for the IPO, which in my mind means there is some chance it will go up. I haven’t yet applied, largely for reasons involving laziness and having to print forms and sign them. Going through online brokers is okay for some but I prefer the ASBA route.
I expect that FIIs will cover the demand by Wednesday, the last day of this IPO. Most retail participation too will happen on the last day. It may be good to wait till then to decide how much to apply – a big oversubscription means there is very little scope for allotment, so there’s no point putting a large application in.