In cities around the world, frantic traders and brokers are buying and selling parts of companies, various currencies, golden commodities and much more besides. Fantastic amounts of money are shuttled to and from their accounts, and they either go home with a new Porsche or, on a bad day, get a lift home in someone else’s.
Has anyone ever traded a Tendulkar or a Sehwag though? What about an Andre Nel, an Andrew Flintoff or a Shoaib Akh…well, no, let’s be realistic. The dream, or nightmare, is now a reality with the Cricket Stock Exchange – cleverly shortened to CrickStock – opening its doors, or virtual vaults.
Users of CricStock start with Ã‡ 10,00,000 of virtual cash (Ã‡ stands for CricStock Rupees) which they could invest either in the IPOs floated on a regular basis or play around with it in the secondary market.
In an IPO, a specific number of a set of player-stocks are put up for grabs and users are allowed to bid as many number of shares as possible (limited by the cash they have of course) at a price within the designated price band. Once the deadline for the bidding period is over, allocations are done, and the allotted shares of the player-stocks appear in the users’ portfolio. These shares are now available for trading in the secondary market.