HDIL Oversubscription + Allotment

The IPO of Mumbai’s leading Real Estate player, HDIL was oversubscribed 6.6 times mainly from FIIs and PE Funds. Here is the breakup as obtained from the Bombay Stock Exchange.

Sr.No. Category No.of shares offered/reserved No. of shares bid for No. of times of total meant for the category
1 Qualified Institutional Buyers (QIBs) 17460000 176952454 10.1347

2 Non Institutional Investors 2910000 5187182 1.7825

3 Retail Individual Investors (RIIs) 8730000 13886194 1.5906

The retail individual investor portion was subscribed mere 1.5 times. So any retail investor who has applied for more 28 shares will get a firm allotment of at least 14 equity shares. The Grey market premium as of today, is Rs 22, it may change depending on the market’s perception for real estate stocks. Good Luck for your listing gains.

Real Estate IPO – DLF will list tomorrow. If their are any listing gains Book at least 50% profits as you will get a chance to re-enter the stock at lower levels.