Grey market premium for PTC India Financial (PFS) IPO was around Rs 1 to Rs 0.50 on around 15th Mar 2011 but afterwards it got down and now it is available on DISCOUNT. However there is a mixed opinion. Grey markets work in two ways in India. It decide the premium of an IPO which is not yet listed in Stock Exchange and it also allows investors to sell there application or allocated stocks at certain premium before they list.
IPO of PTC India Financial (PFS) was over subscribed around 1.70 times and raised around Rs 439 crore. The IPO got closed on 18th Mar 2011. The price band was Rs 26 to Rs 28 and the Issue Price was fixed at the upper level of price band, Rs 28 per equity share.
The proceeds of the IPO are proposed to be utilized to augment capital base to meet future capital requirements arising out of growth in business, to achieve the benefits of listing on the Stock Exchanges and Public issue expenses.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book Running Lead Managers (BRLM) to the offer are Almondz Global Securities Limited, ICICI Securities Limited, JM Financial Consultants Private Limited and SBI Capital Markets Limited.
Registrar of the Issue : Karvy Computershare Private Limited Hyderabad.
Stay tuned to BelltheBull Blog for more news on PTC India Financial Services Limited (PFS) IPO !