When I am writing this post the investors are just taking rest after deciding whether OR not to invest in the HUDCO IPO. While the HUDCO fever fades down the market will get ready for its new initial public offering. Let’s check the PSP Projects Ltd IPO review and find out whether we have a good chance of making money in it OR not?
Issue Date: May 17, 2017 – May 19, 2017
Price Range: Rs. 205 – Rs. 210 per equity share
Minimum Application: 70 equity shares and in multiples thereof
Minimum Application Amount: Rs. 14700
Issue Size: Rs. 211.68 crores at an upper price band
Listing Exchange: NSE and BSE
Trading Start Date: May 31, 2017 (tentative)
1) For working capital requirements.
2) General corporate purposes.
The proposer of the company is Shri Prahaladbhai Shivarambhai Patel and Shri Shilpaben Patel who also refer them as “Selling Share Holders” as through this IPO they are selling their stake. There are two other selling shareholders eg. Pooja Patel and Sagar Patel.
Let’s check the selling shareholders advantage in this IPO.
They have got projects in Karnataka, Rajasthan and Andhra Pradesh.
The share will be listed in the T group OR trade-to-trade settlement group. The settlements will be under surveillance. Also, the selling promoters investment is close to a single paisa making them super profitable in comparison to the IPO investor. Hence, I recommend PSP projects ltd IPO review either an “AVOID” OR a “RISKY BUY” for this issue. You can also check the GMP in our Grey Market Premium page.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.