ARSS Infrastructure Projects IPO

marketmover · #1 3rd February 2010, 04:34 PM

Construction company ARSS Infrastructure Projects announced on Tuesday that it will enter the capital markets with an initial public offering for Rs 103 crore.

The price band has been fixed at Rs 410-450 a share.

The issue will open on February 8 and will close on February 11.

marketmover · #2 3rd February 2010, 04:35 PM

Looks good, would come back on this after going through further details

paran · #3 8th February 2010, 08:53 AM

Any plans to apply for this IPO?

Alchemist · #4 8th February 2010, 10:18 AM

Some analysts feel that the IPO is slightly attractive and there may be some listing gains.

Let's wait and see if there is some institutional demand.

vasa1 · #5 8th February 2010, 02:56 PM

I will avoid this one as well, so a stellar listing is assured

!!!

If anyone is interested in not applying, here's an excuse:

ARSS Infra to enter capital market; promoter accused in murder case

Plus I think it got a 2/5 rating from some agency.

marketmover · #6 8th February 2010, 05:09 PM

Issue very small, already fully subscribed, looks like going to be subscribed many times

Alchemist · #7 8th February 2010, 05:39 PM

There is QIB demand.

QIB segment is already subscribed 2 times.

I may apply for a small amount, in spite of the quality of management.

Demand chart for ARSS Infrastructure Projects IPO is available here:

ARSS Infrastructure Projects IPO - Demand Chart.

Alchemist · #8 9th February 2010, 06:18 PM

ARSS Infrastructure Projects IPO has been subscribed 3.5 times and there is still one day left.

Most of the brokerage reports that I read, have recommended a "subscribe" for the IPO.

The IPO has been priced reasonably at 10 times FY 2010 eps and that's one primary reason why it's getting some attention.

Most probably, I will submit one application.

There is a grey market premium of over Rs 40 and the listing may happen around 490-500.

The management quality is a bit suspect and that's why I will be applying only from my personal account.

paran · #9 10th February 2010, 08:22 AM

Just gone thro' some of the analysis in the web about this issue:

Some of the positives are
Priced at 9.5times of the estimated FY11 earnings (at the upper price band) and peers are trading at 12 times (from MC)
Current order-book is around 2900 cr.
Most of the repeat orders are from Govt (railways mainly)

Negative:
As mentioned by Alchemist "management quality"

Rating is 2/5 by CARE (i don't should we consider this).

I may also put in one application for the listing gain.

nils_gate · #10 10th February 2010, 09:51 AM

Sound base is what is suggested.

http://www.premiuminvestments.in/new...ound-base.html

paran · #11 10th February 2010, 12:10 PM

Applied one lot and will be

till the listing day

InvestorB · #12 11th February 2010, 01:03 AM

applied for full quota of 14 lots. hoping for some listing gains. hope markets don't turn ugly by the time it lists.

nse site shows retail subscription @ 1.7 times. is this the final count? I was expecting a higher number!

paran · #13 11th February 2010, 06:07 AM

Quote:

Originally Posted by InvestorB

nse site shows retail subscription @ 1.7 times. is this the final count? I was expecting a higher number!

One more day left (i.e. issue is open till 11'Feb).

nils_gate · #14 11th February 2010, 10:57 AM

Quote:

Originally Posted by InvestorB

applied for full quota of 14 lots. hoping for some listing gains. hope markets don't turn ugly by the time it lists.

nse site shows retail subscription @ 1.7 times. is this the final count? I was expecting a higher number!

That was subscription in retail category as of yesterday. Total subscription as of now.. is 7.78 times, it was 4.21 as of yesterday.

I suppose total subscription would go above 10.

paran · #15 11th February 2010, 12:27 PM

Quote:

Originally Posted by paran

Applied one lot

Sorry, I meant to say that applied one full application (i.e. 14 lots).

marketmover · #16 11th February 2010, 12:28 PM

The way retail subscription is increasing makes me feel the Maximum Lot in Retail Category would also be on lottery system, Makes me wonder, is it worth blocking 1 lakh for just 15 shares,

Retail portion at 12 noon : above 3 times, its a small Issue, so the subscription may shoot up towards the close

paran · #17 12th February 2010, 06:34 AM

Dear Maketmover,
You said correctly. Btw did you apply? Retail's Final subscription was 18.5 times

What a waste of blocking 1 Lakh for this.

marketmover · #18 12th February 2010, 09:39 AM

I Applied 3 applications minimum lot of 15 shares, I expected the Retail portion to be subscribed 20-25 times, so just took a chance as if I was buying a lottery ticket, No point blocking a lakh and getting 15 shares, now even that is uncertain, especially since the market is correcting and can use the money to buy good shares.

marketmover · #19 24th February 2010, 12:08 PM

Money released from ICICI direct ASBA account

I had applied for Minimum lot 3 applications, Lucky to get 15 shares in one

namehta · #20 25th February 2010, 08:56 AM

I applied using ASBA for 210 & got nothing. Is allotment criteria available anywhere? I wanted to know whether there was any technical mistake in my application?

marketmover · #21 25th February 2010, 09:14 AM

As per reports huge activity in grey market for ARSS, unconfirmed sources say if nothing goes wrong in the market after the budget and the market remains where it is today ARSS may touch Rs. 900/- on listing day, even a 4 digit price on the scrip is not ruled out

Alchemist · #22 25th February 2010, 09:15 AM

Quote:

Originally Posted by namehta

I applied using ASBA for 210 & got nothing. Is allotment criteria available anywhere? I wanted to know whether there was any technical mistake in my application?

Not everyone who applied for 210 shares has got an allotment.

I applied on behalf of my dad and brother for 210 shares each, but only my brother got 15 shares.

marketmover · #23 25th February 2010, 09:20 AM

Quote:

Originally Posted by namehta

I applied using ASBA for 210 & got nothing. Is allotment criteria available anywhere? I wanted to know whether there was any technical mistake in my application?

27 forms out of 38 forms for 210 shares were alloted 15 shares hence even the maximum lot was a lottery

Alchemist · #24 25th February 2010, 09:28 AM

Quote:

Originally Posted by marketmover

27 forms out of 38 forms for 210 shares were alloted 15 shares hence even the maximum lot was a lottery

is it 27 out of 38

or

28 out of 37?

The IPO was subscribed 18.5 times in retail segment.

Thus the ratio should be 14 out of 18.5. (28 out of 37).

InvestorB · #25 25th February 2010, 09:33 AM

where do I check my allotment status? karvy doesn't have ARSS on its list!

namehta · #26 25th February 2010, 09:37 AM

Thanks Alchemist & marketmover.

namehta · #27 25th February 2010, 09:37 AM

Quote:

Originally Posted by InvestorB

where do I check my allotment status? karvy doesn't have ARSS on its list!

http://bigshareonline.com/IPO/ipostatus.aspx

InvestorB · #28 25th February 2010, 10:04 AM

Quote:

Originally Posted by namehta

http://bigshareonline.com/IPO/ipostatus.aspx

no shares for me!!

paran · #29 25th February 2010, 07:13 PM

Quote:

Originally Posted by Alchemist

Not everyone who applied for 210 shares has got an allotment.

If it is the case then I am lucky (still early to say this, can conclude only after the listing gain). Got 15 shares.
Marketmover is lucky + smart mover too :-) because he applied 3 min lot and got 1.

marketmover · #30 27th February 2010, 01:21 PM

Listing on 3rd March 2010

paran · #31 3rd March 2010, 06:39 AM

Quote:

Originally Posted by marketmover

the market remains where it is today ARSS may touch Rs. 900/- on listing day, even a 4 digit price on the scrip is not ruled out

Dear Marketmover,
what is the condition as of now? Do you still expect this figure?
You input would be appreciated.

San Yad · #32 3rd March 2010, 08:03 AM

more than 50% listing gain!..

Those who got shares will enjoy the profit..

Alchemist · #33 3rd March 2010, 08:17 AM

sold all (15) @ 677.

marketmover · #34 3rd March 2010, 09:14 AM

Quote:

Originally Posted by paran

Dear Marketmover,
what is the condition as of now? Do you still expect this figure?
You input would be appreciated.

That was what the grey market buzz was, anyway i am holding on lets see by the end of the day, you don't know the equity base is very low

marketmover · #35 3rd March 2010, 10:13 AM

Sold all my 15 shares @699.95,

paran · #36 3rd March 2010, 10:41 AM

I too sold all at 672. At that point of time it started to drift to lower levels from 690. I wanted to sell at 691 when I got the price in the opening but due to greed didn't do that was expecting to see higher levels :-)

vasa1 · #37 3rd March 2010, 10:52 AM

Quote:

Originally Posted by vasa1

I will avoid this one as well, so a stellar listing is assured

!!!

If anyone is interested in not applying, here's an excuse:

ARSS Infra to enter capital market; promoter accused in murder case

Plus I think it got a 2/5 rating from some agency.

Am I hot or what! Congrats to everyone who took a chance on this!

solar · #38 17th March 2010, 11:44 PM

I was planning to buy ARSS at 745-800 levels, but after today's gain of 20%, would it make sense to go for it?

Also in one of the posts above there is a reference to "grey market". Could anyone explain what this grey market is?

Thanks

solar · #39 26th March 2010, 08:21 PM

There seem to be a lot of bulk deals happening in this scrip. Hence dropped the idea of buying it.

The relevant details are available on BSE site here . I don't know if any other company shows so many bulk deals. Does this mean that the scrip is played by operators? And if people are artificially taking prices up, why isn't anyone doing anything?

Alchemist · #40 26th March 2010, 09:40 PM

Quote:

Originally Posted by solar

There seem to be a lot of bulk deals happening in this scrip. Hence dropped the idea of buying it.

The relevant details are available on BSE site here . I don't know if any other company shows so many bulk deals. Does this mean that the scrip is played by operators? And if people are artificially taking prices up, why isn't anyone doing anything?

Such bulk deals are common in stocks where the impact cost is low.

Usually, newly-listed stocks show such trends.

I am not sure what these trades are about, but I think these are arbitrage or scalping trades.