Sunday, June 26, 2016

Mahanagar Gas Ltd (MGL )IPO Listing on 01 July 2016

Mahanager Gas Ltd (MGL) IPO which opens on 21st June 2016 and closes on 23rd June 2016 got 72.84 times subscriptions on QIB,191.61 times in HNI,6.45 times in Retail and 1.17 times in employee segment marking total Subscriptions to 64.36 times.
As per Market grapevines  Mahanagar Gas Ltd share will be allotted at upper price band of Rs. 421 & allotment will be done on 28 June 2016 and funds will released/ unblocked on 29 June 2016 through ASBA. Retail applicant will get one out of four applicnats of 35 shares. Shares will be credited in DP on 30 June 2016 and Listing will be take place in  NSE/BSE on 01 July 2016 around Rs.525-Rs.550.

We may see the level of Rs.600 in very short term of 7-15 Days( Neutralizing Brexit ). 

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