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Good chance for small investors DLF-IPO |
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Real estate giant DLF’s mega IPO was fully
subscribed on Tuesday, the second day of its issue, but there is
room for retail investors.
The Rs 9625-crore issue closes on June 14, the retail portion of
the issue is still to be subscribed fully. The IPO has reserved
a slice of the pie for the small investor: over 30 percent of
the shares are earmarked for retail investors and they can pay
just part of the money for the shares. |
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Instead
of paying Rs 500 or more, small investors can pay just Rs 150
per share and make the balance payment after allotment.
There is a catch though: if you are looking to cash out at a
premium on the day of allotment, you will be unable to do so.
“In the retail investor category you don't have the option of
exiting the scrip, as you are making a part payment. If one is
looking at an exit option, then one should pay the entire amt
upfront and invest in the stock,” says Ganesh Shanbhag, CEO of
SMS Financial Services Ltd.
But not everyone is positive about this mega sized IPO. Many
feel that apart from the risks associated with real estate
prices, the issue has been overpriced.
“As a retail investor, you are looking at shorter term
investments. There are far more intangible risks for a retail
investor to get in at this moment,” says: Ashok Kumar, CEO of
Lotus Knowlwealth.
While the retail interest may not have been too hot in the first
two days, the merchant bankers expect the small investors to
submit applications on the last day. Either way, the chances of
getting a substantial allotment are bright considering the size
of the issue.
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Masala
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