Auto components maker GNA Axles' Rs 130-crore IPO was oversubscribed two times on the ongoing final day of bidding.
The IPO has received bids against a total issue of 44,70,000 shares.The portion reserved for non institutional investors was subscribed by 217.47 times, that of qualified institutional buyers (QIBs) 17.18 times and the retail investor portion was subscribed 11.84 times.
. Reviews however, are not enthused with a company that is highly export-oriented in its business in a slowing international market.
What are the experts saying? Expert reviews on GNA Axles Ltd IPO:
| Source |
Advice/view |
Summary verdict |
Link |
| Arihant Capital |
|
IPO Watch |
Read more |
| ICICI Securities Limited |
Unrated |
IPO review |
Read more |
| Angel Broking |
Subscribe
|
IPO note available |
Read more
|
| Emkay |
|
IPO note available |
Read more |
| SMC Online |
1.5/5 stars |
Investors with long term view can opt for this issue |
Read more |
| Capital market |
Rating of 40/100 (avoid) |
GNA is being offered at a P/E of around 17.1 times its FY 2016 earnings |
Read more |
| Business standard |
|
Raises Rs 38-cr from anchor investors |
Read more |
| Economic Times |
|
IPO Watch |
Read more |