Manganese Ore IPO

[a2744010]

Nothing. That would be treaded as investment gains. Govt has made such rule to dishearten people who have mindsets to make quick bucks if they are not traders and keep market away from volatility.

Since most people are not paying taxes on IPO income govt has found proxy way of hunting down such tax evaders. You now have to file Annual Information Report on transactions involved high funds with ITR.

Also company in which you'll apply will be having your PAN which is must to apply ipo and chances of getting caught now are much than the past. Though I'll request any expert to clear my doubt on http://www.tin-nsdl.com/anninforeturn.asp 5th clause that is it necessary for company we apply to inform our investments to IT dept or is it our responsibilty?

 

[swati23]

From what I read on that page, it says the company should report it to the IT Dept. I think that would be increased to 2 lakhs as well. Since earlier the limit was 1 lakh, anyone applying for shares of more than 1 lakh value were required to mention their IT circle in their forms....now you have to mention it only if your application value is more than 2L.

 

[goodbrother]

From what I read on that page, it says the company should report it to the IT Dept. I think that would be increased to 2 lakhs as well. Since earlier the limit was 1 lakh, anyone applying for shares of more than 1 lakh value were required to mention their IT circle in their forms....now you have to mention it only if your application value is more than 2L.

Retail limit is increased to 2 lac form 1 lac is by SEBI
for Income tax it is still IPO application above 1 lac treated as high value transaction and to be reported in AIR by company

http://www.tin-nsdl.com/anninforeturn.asp

as a result you will have also to disclose this high value transaction for IPO application above 1 lac while filing return like other specified high value transaction in credit card , mutual fund , Gove bondt etc . this is must so that your return figures do match with AIR filed by various companies.

Let,s hope IT deptt increase this limit for application above 2 lac , but till such amendment comes it is above 1 lac only

 

[goodbrother]

Though I'll request any expert to clear my doubt on http://www.tin-nsdl.com/anninforeturn.asp 5th clause that is it necessary for company we apply to inform our investments to IT dept or is it our responsibilty?

It is responsibility of company to file AIR for such high value transaction made in IPO application above 1 lac .
we have only to disclose in our return so computer may tally the same with AIR filed by company.

It's a cross verification developed bu IT deptt to check if such investments are not concealed by Tax payers

 

[moloy]

can someone tell me; will it good to go for this moil ipo or avoid?

 

[a2744010]

can someone tell me; will it good to go for this moil ipo or avoid?

avoid if you have less than 50,000-1 lacs as it'll be easily subscribe 25-30 times. Hence people bidding 2 lacs will be getting sure allotment and rest on lottery. For 1 lot of 17 shares chances would be 1 out of 30 atleast. You can wait till 1st Dec 2.30 pm before making your decision by seeing retail subs levels and quibs which will close on 30th Nov. Is it good? Yes. It's a good company to invest.

 

[essayauthors]

MOIL would be listed on 10th Dec, 2010 and expected listing price should be over and above Rs 510

 

[magnet]

MOIL would be listed on 10th Dec, 2010 and expected listing price should be over and above Rs 510

Source?

How can u give quote better than coal india to this stock?

 

[sanjiv1977]

hi
i am applying for the ipo for the first time
i read that for moil ipo minimum qty is 17 and multiple quantitty is 17
floor price 340 and cap price is 370
that means i can apply for shares only in multiples of 17 say 17,34,51 so on
and what will be the price 340 or 370
Thanks
Sanjiv

 

[a2744010]

hi
i am applying for the ipo for the first time
i read that for moil ipo minimum qty is 17 and multiple quantitty is 17
floor price 340 and cap price is 370
that means i can apply for shares only in multiples of 17 say 17,34,51 so on
and what will be the price 340 or 370
Thanks
Sanjiv

It's 340-375 and not 370.

You can apply at multiples of 17 i.e. 17, 34, 51, 68 etc. Bid at cut-off only. Price discovered, looking at current demand and future excitement should be 375. If you bid at cut-off you agree to pay whatever price company decides and in return you get benefit of getting allotment before others who bidded at price. If there is firm allotment to everyone, all cut-off bidders gets allotment 1st. Don't place price bids as this IPO will easily oversubscribe 30-40 times and your application will be waste as others who bidded at cut-off will get preference. Though since it'll be high subscribtion IPO, getting allotment is least possible and will be by lottery.