The IPO of Sobha Developers Ltd is heavily oversubscribed. Compared to Parsvnath developers Ltd, the size of Sobha IPO was half but it did see lot of applications on the last day of the IPO.
NOTE: If you are having problems with Intime Spectrun w.r.t Parsvnath IPO – Refund or Shares not credited to your demat account, send me an e-mail to firstname.lastname@example.org with your application number and city. We are launching a SEBI complaint against Parsvnath.
The final subscription figures of Sobha Developers that I just received on fax are as follows,
Qualified Institutional Buyers (QIBs) 168.8409 times subscribed
Non Institutional Investors 193.9597 subscribed
Retail Individual Investors (RIIs) 20.6839 subscribed
Employee Reservation 0.9320 subscribed. So some shares from Employee reservation will be made available to the above categories.
Lets analyze the Retail Individual Category subscription of Sobha Developers.
No of shares Offered: 24,01,282
No of Shares applied at Cut-Off: 4,68,19,100
Therefore, if we assume the IPO is priced at cut-off i.e is Rs640, then the issue is subscribed by 19.49 times. The allotment will be in the inverse ratio of subscription. So even for folks applying 150 shares, the allotment may go for lottery. [Many chances, it will not be known we know the demand in each category]
Good Luck!!! Don’t forget to e-mail if you have any complaints about Parsvnath and Intime Spectrum the third rate registrar.