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Clean Science@ Rs 1620 vs Rs 900
GR Infra shares Rs1715 vs Rs 837/-
Have a bumper listing on NSE: IPOs pay !
- GR Infra IPO was oversubscribed as investors across categories bid heavily for the shares of the company
Making a strong debut on the stock exchanges as expected, shares of GR Infraprojects listed at a premium of 105% at ₹1,715 per share on the National Stock Exchange (NSE) as compared to issue price of ₹837 per share. On NSE, Clean Science shares were trading higher at ₹1,650 per share, over 100% premium as against to the issue price of ₹900.
The initial public offering (IPO) of both the companies were oversubscribed during the The three-day issue which had opened on July 7 and closed on July 9. The speciality chemical manufacturer Clean Science was subscribed over 93 times. The retail segment was subscribed 9 times while Qualified Institutional Buyers (QIBs) 156.37 times and non-institutional investors 206.43 times. It had set price band of ₹880-900 apiece.
Sebi enhances disclosure requirements pertaining to listing of Clean Science
The company manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. The company has multiple manufacturing facilities in Kurkumbh, MIDC Maharashtra that are automated to maintain high levels of accuracy and efficiency.
Infrastructure developer GR Infraprojects Ltd’s IPO was oversubscribed 102.5, as investors across categories bid heavily for the shares of the company. In the GR Infra IPO, the portion reserved for retail investors was subscribed 12.57 times. The qualified institutional buyer category was subscribed 168.58 times and the non-institutional investor category was subscribed 238.04 times. The company had fixed a price band of ₹828-837 a share for its offering.
Udaipur-based GR Infra is a leading integrated road engineering, procurement and construction (EPC) company with experience in design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.
Many brokerages had recommended subscribe to the issues, citing long-term growth potential of the company and possibility of listing gains.
Retirement planning— Aware of these 5 traps!
The value of money in terms of purchasing power has been dwindling considerably over the years due to inflation, population growth driven demand, cost of manufacturing and services going up constantly, due to cost of petrol, diesel being raised almost on daily basis, taxes etc., So if one can maintain a family with Rs 10,000/- today may find difficult to do so in the next year as the value of Rs 10,000 gets eroded. Unless your income earning capacity goes up seamlessly in tune with the above cited factors, you will find it extremely difficult to manage the financials of the family. Naturally one should think of second income or passive income to manage the family. The people who retire will find it extremely difficult because the monthly income ceases to naught at one point of time. So investing for the rainy day is a must and that too it should commence early in our age. Here in are the five blunder we normally commit in terms of our savings. A reasonable amount of savings in the form of SIP will really help.
Money slip-up that can hurt old age
Periodic withdrawals from long term retirement products like the NPS, EPF, PPF jeopardise your retirement goals. That is why experts ask subscribers not to press the withdrawal button on these, barring in extreme cases or emergencies. Such frequent or premature withdrawal is just one of the mistakes that can hurt your retirement goals and plans. Here are other money mistakes that will adversely impact your retirement and financial well-being in old age.
Starting late, contemplating
Among the many excuses for delaying retirement planning is “we are eligible for pension”. Government employees who joined after 2004 are not eligible for defined benefit pensions and need to do their own retirement planning. Since their fixed contribution towards NPS won’t be enough to buy sufficient annuities, they should either increase their NPS contribution or invest in other retirement products. Matters are worse for private sector employees. Pension provided under the Employee Pension Scheme of the EPFO is meagre, the maximum one can get is just Rs 7,500 a month. The most common excuse used by youngsters is that retirement is far, far away and there’s plenty of time, whereas in reality, each passing day counts towards building your corpus.
Another argument is that income will be more at a later age. While this is true, expenses will be proportionally higher too, you will have dependants or more mouths to feed, more expenses etc. Normally, children’s education and wedding are major financial goals for many and these are heavy expenses which may not leave you enough for your old age.
Not committing enough
The major reason for not committing enough towards the retirement goal is the propensity to spend excessively when in younger year. That there will be a sudden drop in expenses after retirement is a myth and yet another reason why people underestimate the required corpus. In reality, post retirement expenses will be just as much. While some costs like commuting will be absent, they will be replaced by higher medical expenses and leisure travel costs.
Another mistake is planning retirement only till 75 or 80. Due to improvement in medical sciences, life expectancy has increased so everyone should plan for longer years.
Not having medical insurance
Getting adequate health insurance is the only solution to deal with longer years and booming medical expenses. Many, especially youngsters, don’t get individual insurance policies because they get coverage via corporate or employer’s group policies. Not taking health policies at a young age becomes a stumbling block after retirement because you might have already developed several lifestyle diseases. Then, insurance companies may deny you health policies or may charge additional premiums.
Don’t be skewed towards one asset class
Though some suggest 100% equity exposure while saving for retirement because there is enough time on hands, you are still signing up for 100% risk for a critical money goal. Low returns from debt products and high inflation is why you should not keep everything in debt. So all debt or all equity is not the answer. Compared to the current debt return of around 7%, adding equity into your retirement corpus and increasing the blended returns to 10% can make a big difference to your final corpus. For example, an investment of Rs 5,000 per month for 30 years grows to Rs 61 lakh at 7% returns and to Rs 1.13 crore at 10% returns, a difference of Rs 52 lakh.
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