In an exclusive online poll conducted among retail investors and analysts by India Microfinance Business News it has been revealed that the majority of respondents feel that the shares of Coal India IPO will close around the Rs 325 mark on it’s listing date. This new price discovered represents a huge jump over the current grey market premium of just Rs 40 Rupees.
If Coal India’ shares close at the Rs 325 mark it will represent a gain of more than 40% for retail investors on an issue price of Rs 232.75.
When asked the question “What will the Closing Price of Coal India on it’s Listing date ?” in an online poll conducted on this website , about 37% of respondents voted saying that they felt that Coal India’s share price will close above the Rs 325 mark while 29 % felt it will close between the Rs 300 -Rs 325 mark.
Together a total of 66% of the respondents feel that Coal India’s IPO shares will close the day on it’s first day of trading bove the Rs 300 mark. Our analysts predict that the shares of Coal India will close around the Rs 325 mark on its listing day.
Only 24 % of the respondents voted saying they felt it will close between the Rs 275 – Rs 300 mark while another 8% voted saying the closing price will be between Rs 250- Rs 275. A measly 2% felt the shares could close below Rs 250.
A total of 119 votes were polled in previous 48 hours and the results were compiled today morning on closure of the Coal India IPO Poll. A graphic showing the number of votes polled along with the percentages is displayed below. The highest number of votes was polled by the above Rs 325 option.
Considering that the issue was oversubscribed 15 times , there will be many investors who will be unhappy with the reduced number of shares alloted to them. It is possible many of them will try to buy from the secondary market for long term investing and this could propel the stock price of coal India to the Rs 325 levels.
Shares alloted in Coal India’s IPO are expected to commence trading on the 4th November 2010. We can now only wait and watch to see if the predictions of this poll will come true.
Disclaimer:This above poll has not been conduct scientifically and merely reflects the general opinions of only those internet users who have chosen to take part in this Internet Poll. India Microfinance Business News does not promote the use of this information for any factual purposes and cannot be held responsible for any inaccuracies in the results.