Same patterns in Bang Overseas, Tulsi Ext stake-holding

Bang Overseas and Tulsi Extrusions - the concentration in the IPOs of both these companies is limited to only a few players. The concentration of stake percentage and thereby power in the hands of only a few QIBs, is very interesting and important to note.

In Bang Overseas ,  the issue size was around 35 lakh shares and its amazing to see that around 17 lakh shares, which is around 50% of the issue, are held by only three QIB applicants. These three hold nearly 12% equity in the company. Some of these QIBs are Deutsche Securities who hold nearly 7.75% stake in the company, Elara India Opportunity holds nearly 3.23% and Bennet Coleman holds nearly 1.64%.

Another noteworthy point is that there was no application made by any mutual fund. Deutsche Securities, which is a big FII, is applying for nearly 8% of the issue size and there are no mutual funds that are applying for the IPO. This is really surprising.

Tulsi Extrusions 's 50% issue has been subscribed by nearly 6 applicants; they control nearly a quarter of the company.  There are similarities in Bang Overseas and Tulsi Extrusions. Here also, Mavi Investment Fund holds nearly 6.5% of the equity and Lotus Global Investment Fund also holds the same.