Did You Get D-Mart Shares?

“Did you get D-Mart shares?” This has been the burning question that has stirred up the ‘investoratti’ in the online world and Whatsapp groups. The IPO allocation process that started on Saturday has been playickng up all kinds of investors emotions from frenzy to disappointment as the buzz over the IPO continued over the holiday weekend.

Arnab-like style ‘nation wants to know tujhe D-Mart mila kya? ’ messages have been flooding the Whatsapp groups over the last two days. Those who have received allocations are ecstatic with messages saying ‘Bharatbhai has been lucky for me.’ 'Lucky strike' and so on.

Jokes have also been circulating by those who have not received allocations mimicking politicians like Arvind Kejriwal. One such: ‘IPO allotment vale machine me hi gadbadi thi…’; and Mayawati: ‘D-Mart ke IPO allotment ki jhanch phir se karaya jai.’

In recent times, no other IPO has evoked such investor passions, and lucky investors are waiting with bated breath to receive the shares into their demat accounts by Monday night.

If the listing premium is anything to go by in the off-market circles, the shares could even list at nearly twice its offer price, thus doubling lucky investors investment in a span of a mere two weeks. The market is expecting a premium listing of nearly 100 percent above its final offer price of Rs 299.

The over-subscription figures, which came in at nearly 104 times, was so humunguous that many investors are going to go empty handed, and so excitement on the allocation is palpable. One gentleman noted on twitter: ‘the chances of getting at least one lot is very less. So when you get it, it feels like you already won the lottery.’

Another investor noted that ‘the joy is not about 15 shares, but it’s about getting “something” in the hyped and herded IPO.’

Record volumes are expected for the new listing as institutional investors who have not received enough quantity are likely to bid for more on listing day.

Retail investors, however, are getting only just receiving 50 shares worth about Rs 14950 against their applications of up to Rs 2 lakh, which has sparked off a debate whether such frenzy is justified.

Basant Maheswari, author of The Thoughtful Investor remarked on twitter: “surprising to see people who have got 50 shares in D-Mart celebrating as if they have been given 50% of the company!”

However, given the scarcity of the IPO and the hype, some are even prepared never to sell their meagre allotment. One gentleman remarked that like its products, D-Mart has given a huge discount on its share offering.

Another person with the handle @b50 tweeted: “50 shares of DMart allotted! Never going to sell them, will buy a 3BHK in Bandra with these 50 shares in 2037”

Lucky you!