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Stocks

JustDial IPO Update: 70% Taken

The JustDial Bids come in on the second day filling in 70% of all shares. Read my analysis of the issue.

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Institutions take in nearly 0% of what they’re allocated, and Retail pumps in 73% of theirs. HNIs don’t get in much – and that could be due to the lack of a safety net (only available to retail).

And then, you have the bids, mostly at 530 (the price at which other “anchor” investors have been allocated the issue already (that is 30% of the issue apart from the above allocations)

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Tomorrow is the last day and most of the money is likely to move in then. I haven’t yet put in my bids. Unless tomorrow is an insane subscription day, I am going to apply at 3 pm through my bank online. (I found out the procedure is simple!)