Skip to main content

Chemcon Enjoys 75% Gray Market Premium, CAMS 28%, Angel 16%

 


The Rs 318 crore Chemcon Speciality Chemicals, the smallest among the three IPOs hitting the market this week, has been a big draw among grey market investors, and the stock is enjoying a premium of 75 per cent. The Rs 2,242 crore CAMS, FY21's biggest initial public offering (IPO) so far, is seeing its shares trade at 28 per cent premium.

The premium on 
Angel Broking's unlisted shares has dropped to 16 per cent from 25 per cent earlier. Grey market traders said this may change, as Angel's IPO will hit the market on Tuesday, a day after the issues of Chemcon and CAMS.

While the grey market premium of Chemcon stood at Rs 250-255, CAMS’s is at Rs 342-345 and Angel Broking’s at Rs 40-50.

On Monday, the two offerings CAMS (Rs 2,242 crore) and Chemcon Speciality Chemicals (Rs 318 crore) will hit the market. Dinesh Gupta of Unlisted Zone said the grey market premium stood at Rs 342 for CAMS and Rs 250 for Chemcon. Sandip Ginodia of Abishek Securities pegged them at Rs 345 for CAMS and Rs 255 for Chemcon, which in percentage terms stood at 28 per cent and 16 per cent, respectively.

In case of Angel Broking, the grey market premium has come down to Rs 50-55 from Rs 55-77 on Friday, the day the company announced the issue. Brokerages dealing in unlisted shares felt that Angel's price band at Rs 25-30 was higher than the grey market expectations.

In the case of CAMS, the price band has been fixed at Rs 1,229-1,230 and prospective retail investors need to invest a minimum of Rs 14,800 for one lot of 12 shares or in multiples thereof. Retail investors can bid for a maximum of 13 lots.

On the block are 1,82,46,600 shares by NSE Investments, which will offload 37.4 per cent stake, following a February 4 Sebi directive to NSE to exit the company completely. The quota for retail investors in CAMS IPO has been fixed at 35 per cent of the net offer. The QIB quota is fixed at 50 per cent and the NII quota at 15 per cent. There is an employee reservation of up to 1,82,500 shares.

Vadodara-based Chemcon Speciality Chemicals, which serves pharma and oil well industries, is offering a fresh issue of equity shares aggregating up to Rs 165 crore and offer for sale of up to 45,00,000 equity shares, to be sold in the price range of Rs 338-Rs 340.

Angel Broking aims to raise Rs 300 crore by issuing fresh shares and another Rs 300 crore via offer for sale (OFS) by existing shareholders, including International Finance Corporation (IFC), a World Bank arm.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res