Mah Holidays may see sub Rs 250/sh post listing: Udayan
Published on Fri, Jun 26, 2009 at 09:31 | Source : CNBC-TV18
Updated at Fri, Jun 26, 2009 at 11:43
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Mah Holidays may see sub Rs 250/sh post listing: Udayan
Mahindra Holidays IPO subscribed just 0.89 times till June 25, which should have done 4-5 times after looking at its track record. Managing Editor of CNBC-TV18, Udayan Mukherjee said watermark for the issue price was Rs 250 a share. That is where they should have done the issue. They did 20% extra on that and that was probably not fair pricing.
Mahindra Holidays IPO subscribed just 0.89 times till June 25, which should have done 4-5 times after looking at its track record. Managing Editor of CNBC-TV18, Udayan Mukherjee said watermark for the issue price was at Rs 250 a share. They did 20% extra on that and that was probably not fair pricing. He said, "I would wait, even after the issue lists, there is a little bit of a pop, I suspect it will get it at sub Rs 250 at some point. "Here is a verbatim transcript of Managing Editor, Udayan Mukherjee's comments on CNBC-TV18. Also watch the accompanying video. Mahindra Holidays is a great story. But probably they got too aggressive on the pricing and that is the reason why on the last day they have still not crossed that one time subscription. They will do that and maybe little bit on top of one time as well but it's not a huge subscription. For a story as strong as Mahindra holidays you should have seen good appetite, you should have seen the issue being subscribed 4-5 times at least or more but that is sadly not going to happen because they probably want to milk it too much straight away. Continued on the next page...
Mahindra Holidays IPO subscribed just 0.89 times till June 25, which should have done 4-5 times after looking at its track record. Managing Editor of CNBC-TV18, Udayan Mukherjee said watermark for the issue price was at Rs 250 a share. They did 20% extra on that and that was probably not fair pricing. He said, "I would wait, even after the issue lists, there is a little bit of a pop, I suspect it will get it at sub Rs 250 at some point.
