taking stock

A phrase that the Oxford English Dictionary reports was first used in 1736. It means "to make an inventory of the merchandise, furniture, etc., in one's own possession, recording its quantity and present value, or to make a careful estimate of one's position with regard to resources, prospects, or the like."

Thursday, June 14, 2007

DLF - Cold, very cold.

Despite portals like Moneycontrol.com bullshitting about the DLF IPO getting a "good response" from investors, the truth is very apparent from the subscription statistics. DLF received a very very cold response. The issue refused to get completely subscribed in the retail category (97.5% subscription). Even its own employees seem little interested in the issue (78.6% subscription).

Moneycontrol.com has been claiming and posting articles on overseas and FII interest over the last 4 days, but there again a subscription of 5.18 times is no big deal. Take a look at the subscription stats of Vishal Retail. Looking at all the hype that was generated ever since DLF first filed their prospectus (thats like 1 1/2 years ago), in my opinion the numbers look very disappointing.

Category Subscription (times)
Retail Category
0.9752
Qualified Institutional Buyers 5.1288
Non-Institutional Buyers 1.1434
Employees 0.7862

Said Rajesh at 10:13 PM

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