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Note: The artciles are not research reports but assimilation of information available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”

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Monday, January 14, 2008

Reliance power and Future capital IPO

A gentleman who HAS SO FAR not set-up even 1 mw till today gets premium of Rs 390/ in IPO for a company which is only on paper so far. Another company which has made loss of 10 crs in H1 is coming out with IPO at 80 times its face value. Any disctionary defies any description for this kind of financial greed/scams/promoters-from-heaven(or hell). Never it has happened like it before. Caution is needed. Everything looks good to every investor at every/any price bcoz large section of media/analysts/merchant bankers/managers to the issue are sold out in the hands of these promoters whose greed knows no bound and has no parallel on this planet. MONEY IS THE ONLY GOD WHICH THEY ARE WORSHIPPING. No once cares for fundamentals, rationality. RAM RAM JAPNAA, PARAAYAA MAAL APNA.

However, there is age-old saying "GREED IS THE FODDER OF THE CHEAT. SO LONG AS GREEDY INVESTORS ARE THERE, CHEAT PROMOTERS WILL NEVER STARVE TO DEATH".

Investors are getting carried away due to 2 factors:

1. 5% discount and only 25% on Application money: 5% discount is like 5% refund on Rs 400/ which investors are being robbed off. 25% as if investors are not liable to pay balance 75%.

2. In grey market, already trades are taking place at Rs 800/. So, investors will feel what is harm in applying for issue at 400/ when it will be sold at 800/? Is not this make-believe situation created by vested circles/interest who dont mind wasting/spending few hundred crs (by buying few lakh/mn shares) to give an impression that entire issue of 11000 crs commands premium of 11000 crs so that promoters can collect free kaa 11000 crs.

Worst part is that there is not a single MAN in media who could advise "not to apply/reject" for this issue, who could term it as blatantly overpriced? Who could question project implementation record of this promoter?

Similarly, Pantaloon is biggest retailer but he is not the most profitable corporate in India. His profit margins are abysmally low. Does his loss making co deserve price of 80 times of the face value?


Regards,
ARUN
I can be reached at:-arunanalyst@rediffmail.com

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