Indian Stock Markets have been seeing a lot of action in the primary market space.With the markets doing rather well , a lot of IPO’s which were waiting in the wings are springing into action trying to cash on the market opportunity.
This time it is Cox & Kings which has managed to get subscribed 6 times.Cox & Kings – a provider of all things travel has a large gamut of products/services catering to the tourism and travel sector.The over subscription clearly marks the investor confidence in the company.
The company has operations spread out across 20 countries and has a broad categorization of verticals as Leisure Travel, Corporate Travel, Forex and Visa Processing.
The IPO received a positive outlook from industry experts as far as the valuations are considered and the investor interest seems to predict that the stock might have potential.
Here are the details of the Cox & Kings(India) IPO
COX AND KINGS (INDIA) LIMITED
Symbol – Series
CNK EQ
Issue Period
Nov 18, 2009 to Nov 20, 2009
Issue Size
184,96,640 equity shares [including Anchor investor portion of 27,44,480 equity shares]
Issue Type
100% Book Building
Face Value
Rs. 10/-
Price Range
Rs.316 to Rs. 330 .
Tick Size
Re. 1/-
Market Lot
20 Equity Shares
Minimum Order Quantity
20 Equity Shares
Maximum Subscription Amount for Retail Investor
Rs.100000
IPO Market Timings
10.00 a.m. to 5.00 p.m.
IPO Grading
IPO GRADE 4
An IPO grade of 4 by CARE signifies above average fundamentals and the 300 odd price range makes it an interesting choice even with small time investors.
However, with travel industry being cyclical in nature and hugely dependent on currency fluctuations , it is not going to be an easy ride.On top of that, there is lot of competition at both domestic and international.
It will interesting to see how the market response is at the time of listing.The recent IPO listings have turned out to be less than spectacular.