The FPO seems to have been already oversubscribed in the anchor investor leg that too 9 times at upper band of 610, but should u invest?
The markets are seeing a fall and expected to fall further , most commodities are at cyclical highs and most stocks fully valued.
So does the TATA STEEL/ TISCO fpo look good?
Yes if u want to buy a lot of stocks … say if u are an institution but is it a screaming buy if ur a small investor with a limited demand?
Yes, its a commodity/ steel stock but it has US $ 10 billion plus in financial debts.
Just a 2% discount (and falling) to market price.
No discount to small investors, so no safety margin.
The FPO has seen full underwriting by BRLMs, much before the issue opening.
Negative overall market sentiment and a loss to ipo investors in last few issues
Potential to fall below Rs 610 is very likely once these shares hit the market.
Im giving it a miss, What about u?