DS Kulkarni Developers NCD issue for a total size of Rs. 200 crore has opened. As it had a base size of Rs. 100 crore, response details on BSE and NSE webs are given on that basis.

The issue opened on 4th August and got 10% subscription. On 5th August, BSE and NSE web showed response to the tune of 50% that definitely lured retail investors to hurry for applying.

But on the third day, the website of BSE and NSE showed response as 28% and on 7th August, the total response was 38%.

For the second day subscription, BSE and NSE needs to clarify as to what went wrong and even SEBI has to take up this matter. According to sources, here too, some game plan of using HNI demat account by involved broking houses was underlying, but later was said to have been cancelled or withdrawn under fear of SEBI action.

So, regulatory bodies have to take a call on this.

Dilip Davda

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