Analysis and Insights into the world of IPOs and investing in India

Wednesday, November 21, 2012

Tara Jewels gets response from only Retail Investors on opening day

Tara Jewels IPO, which opened for subscription today, has received response from only the retail individual investors with the issue getting subscribed 0.04 times or 5% on an overall basis on the opening day

The IPO under which equity shares are offered in a price band of Rs.225/- to Rs.230/- an equity share, has been rated with an IPO Grade 3/5 by credit rating agency CARE. This means as per CARE, company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

The issue remained unsubscribed in QIB, HNI and Employees categories on the opening day. The IPO would remain open for subscription till Friday, November 23, 2012
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