Concord Biotech IPO
It's been quite some time I have not been allotted any IPO, but I got lucky with Concord Biotech where I luckily got the allotment. The IPO is not that great but I wanted to have some listing gains so I applied for it.
PC: Google.com
The Grey Market Premium showed that the listing gain could be around 16 to 20%. But to my surprise I got the listing gains of around 25%. I sold all the shares because I have wanted to get the listing gains only. I had a bad experience with earlier IPOs where I kept some shares and it has given some losses.
So now my approach is changed, instead of keeping the shares for long term. For IPOs I will just apply for the listing gains. The gains can be of above 10%, if yes then I will surely apply for it. Just like the Concord Biotech where the GMP was not that great but still I applied for getting the listing gains and thus I got some gains.
Getting 20% gains in less than 2 weeks is quite good. The only thing is that getting allotment is by luck and it's very unlikely that you get lucky always. But I keep applying, so that I can be lucky sometimes and that compensates for not being lucky always.
Now there is quite a lot of IPOs on the pipeline but again getting the allotment is quite tough. So I keep my fingers crossed to see if I can get some more allotment this year or not.
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