KNOW YOUR MERCHANT BANKER

                                                                                   17-04-2015     


KOTAK MAHINDRA CAPITAL COMPANY                                                                                                                                                   

Kotak Mahindra Capital has managed two IPOs in the current year.  Both the IPOs are trading below the IPO price.

  Issuer                                           IPO price                        CMP  

a. Ortel communications                       181                             167

b. Ad Lab                                              180                             172  


FirstChoice IPO had recommended not to subscribe to both the above IPOs.


ARYAMAN

Name of the company	Issue price	CMP	OUR RECOMMENDATIONS
SWAJAS AIR	Issue bombed	-	AVOID
MID VALLEY	RS 70	RS 7	AVOID
VKS PROJECTS**	RS 55	RS 4.50	AVOID

(** adjusted to split)

 JP MORGAN 

NAME OF THE COMPANY	IPO PRICE	CMP	MONTH OF IPO LISTING	FIRST CHOICE IPO RECOMMENDATIONS
ADANI POWER	100	44	AUG 2009	AVOID
NTPC	145	145	MARCH 2010	AVOID
PRESTIGE ESTATES	183	164	OCT 2010	AVOID
POWER GRID CORP	90	103	NOV 2010	INVEST
MOIL	375	240	DEC 2010	INVEST
BHARTI INFRATEL	220	181	DEC 2012	AVOID
SAMVARDHANA MOTHERSON FINANCE	118	ISSUE BOMBED	MAY 2012	AVOID
OBEROI REALTY	260	259	OCT 2010	INVEST

In the last four years Morgan Stanley has managed 11 IPOs in India, out of which only three are trading above the issue price.

NAME OF THE COMPANY	IPO PRICE	CMP	MONTH OF IPO LISTING	FIRSTCHOICEIPO RECOMMENDATIONS
ADANI POWER	100	44	AUG 2009	AVOID
OIL INDIA	1050	506	SEP 2009	NOT ASSESSD
INDIA BULLS POWER	45	09	OCT 2009	AVOID
JSW ENERGY	100	57	JAN 2010	AVOID
HATHWAY CABLE	240	277	FEB 2010	AVOID
NMDC	300	136	MARCH 2010	INVEST
JP INFRATECH	102	41	APRIL 2010	AVOID
EROS INTL	175	178	OCT 2010	INVEST
OBEROI REALTY	260	259	OCT 2010	INVEST
COAL INDIA	245	305	NOV 2010	INVEST
MCX	1032	899	FEB 2012	INVEST

KOTAK MAHINDRA CAPITAL COMPANY

NAME OF THE COMPANY	MONTH	ISSUE PRICE	CMP 13-10-11	FIRST CHOICE RECOMMENDATIONS
VASCON	2010 JAN	165	49	AVOID
DB REALTY	JAN	468	52	AVOID
JUBILIANT FOOD	JAN	145	900	AVOID
NTPC	FEB	201	174	AVOID
HATHWAY	FEB	240	102	AVOID
REC-FPO	FEB	193	178	INVEST
NMDC-FPO	MAR	300	252	INVEST
NITESH ESTATES	APR	54	17	AVOID
JAYPEE INFRA	MAY	102	51	AVOID
STD. CHRTD. BK IDR	MAY	104	88	INVEST
SKS MICRO	JUL	985	218	AVOID
HM MEDIA VENTURE	JUL	166	146	INVEST
BAJAJ CORP	AUG	660	510	INVEST
GPPL	AUG	46	73	INVEST
TECPRO	SEP	355	213	INVEST
EROS	SEP	175	253	INVEST
OBEROI REALTY	OCT	260	231	INVEST
COAL INDIA	OCT	245	332	INVEST
PRESTIGE ESTATES	OCT 2010	183	109	AVOID
TATA STEEL FPO	JAN 2011	610	454	INVEST
MUTHOOT FINANCE	APR 2011	175	170	INVEST
FUTURE VENTURES	APR 2011	10	9	AVOID