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HCL Tech. to become the flavour of funds - Views on News from Equitymaster
 
 
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  • Nov 13, 1999

    HCL Tech. to become the flavour of funds

    Going by the roaring success of Hughes Software, HCL Tech. is likely to become the new flavour of fund managers subsequent to its initial public offering. This was a view expressed by a leading financial daily.

    As funds witness explosive growth in corpuses, managers are skimming for quality software stocks. With established stocks like Infosys, Satyam, Mastek, NIIT and Wipro too overheated, managers have taken a liking for IPOs. Hughes Software's IPO got an excellent response from fund managers, although there were only 3.93 m shares on the block. On the other hand, HCL Tech. is offering over 12.7 m shares and is expected to see more activity.

    Fund managers prefer investing through the book-building route as they don't have to liquidate a portion of the portfolio as in the case of an IPO.

    However, funds could witness a slight dip in inflows from institutional investors, who will be lining up to invest in HCL Tech.

     

     

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