There were reportedly Ten Bidders in fray for IFCI. The exact bidders will be known by Saturday Evening. The expected bid price could be even 120 Rs due to the competition. This is going to be good news for IFCI investors.
The only possibility of downside could be when there will not be one investor who is not given the 26% stake. This will not trigger open offer and so price movement will not be there. There are some othe minor issues to be resolved but all this will have limited downside for IFCI.
Stay invested and I will most more updates on IFCI once the news trickle in.
Saturday, September 15, 2007
IFCI Update
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2 comments:
Please do post, i've invested in IFCI n lookin all over but couldnt find any new updates regardin the bidders.
I WAS RECOMMENDING IFCI FROM RS.12
UNLESS OR UNTIL THERE IS SOME TYPE OF BAD NEWS FROM POLITICAL CIRCLES, DO NOT SELL IFCI. THE SHARE CAN MOVE UP FURTHER...BY JANUARY IT WILL CROSS 100 AND IN THE LONG RUN IT CAN GO MUCH HIGHER.
SALIM..CHIRAYINKEEZHU
ABU DHABI
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