IPO grey market abuzz with Coal India IPO

Business Standard has a story today on how the IPO grey market is really excited by the Coal India IPO, and it reminded me of the Reliance IPO a couple of years ago; here are a few interesting tid bits from the report:

  1. The IPO price hasn’t been fixed yet, but there is already a Rs. 10 – 12 premium!
  2. Brokers are paying up to Rs. 4,000 to retail participants to apply on their behalf.
  3. Some brokers are even helping investors open demat accounts just to invest in this IPO.

I was truly amazed by the details in this article, and it is well worth your time, go read it now.

And if you wanted to read something with that talks about the details of company itself, then read this post I did a couple of days ago about the Coal India IPO.

Among other news, SCI (Shipping Corporation of India Ltd ) shares jumped up 14% today on news of part government disinvestment and Career Point Infosystem lists with a 103% premium!

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