After a long time, I applied for the IPO and got one allotment out of two. It was a surprise because the subscription was 107 times for retail. So getting one allotment out of 107 is like a big lottery for me. To be honest, this time, I invested after seeing the Grey Market Premium as well as the QIB subscription, as the company was not doing very well.
PC: Groww.com
But yeah, the company has been there for 16 years, so yeah, the company is actually doing good business to stay relevant for so long in India. And in recent times, it has also come in profit, so that triggers me to apply for it. I have applied in retail, where the amount was under Rs 15K. When I applied, the GMP was around 55%, which is a great GMP, to be honest.
Today, it is listed at 65%, and thus, I sold at 80.5%. It has gone up to 85% to hit the Upper Circuit. Though I am not happy with my sale, again, I have applied only to sell for listing gains. Most of the good companies, I keep some shares for the long term, but I didn't keep them, and I sold everything to gain a profit.
So for the investment of Rs 15K, I got around 28K. A profit of Rs 13K and after deducting the taxes like brokerage, Short-term capital gain, it will be around Rs 10K. So I gained around Rs 10K in this IPO which is again a very good amount. I intend to use this amount for personal purposes like travelling in the year-end. So yeah the money earned in this IPO will be totally used for travelling.
Along with this I have also applied for Vishal Mega Mart IPO, which I have not got and it also gave bumper listing.
