Has anyone applied for Arpico Insurance IPO. I have purchased a small block.
Only 6 million shares on the board and to commence trading tomorrow. Confidential sources reveal that Dr Senthilvel entered with 1.0Mn quantity and Adam Investments main shareholder Gulamhussain has booked a considerable quantity.
NAV - Rs 8
Company has made losses in the recent years. However losses are in a declining trend during recent years.
But the company trails around 1.5 times of the NAV which is below the par value of the sector ( 1.9 - 2.0 times ) Further company mainly does life business which is highly profitable compared to motor.
What you guys think?
1.Trailing below the sector NAV
2.key players entry to the stock
Will these factors would create an impact tomorrow?