Well most Indian IPOs are failing with pathetic subscription figures now.
The reason is well know – A big market crash – very luxurious valuations – retail investor starting to analyze things – the fall in mkt price on listing of of future group ipo – and most important- plain and simple Promoter greed .
Wockhardt Hospitals : The issue opens on January 31 and closes on February 5.Even after revising the price band to Rs 225 (20 per cent at the lower end) and Rs 260 (16 per cent at the upper end) per equity share (from Rs 280 to Rs 310) its IPO is failing to get the figures. It has just been extended to February 7, lets see what magic the BRLMs and their merchant bankers can do …
The Emaar-MGF : The price band of Rs 610-690 for 10.26 million shares.The issue opened on February 1. same here – agricultural land bank.Issue will mostly be extended – Add rampup in print and in tv has failed to do the magic , they have powerful merchant bankers , lets see what they can do
The IRB Infrastructure Developers issue of 51.06 million eq is also in the same boat
Looks like the IPO markets r turning …. will they be effected by the mumbai chill?
IPO CLOSURE PRICE MIN INV SUBS (RETAIL)
Wockhardt Hospitals Limited -07-FEB-08 —-225-260 —4500— 0.06
SVEC Constructions Limited -08-FEB-08 —-85-95 — 5950— 0.01
Tulsi Extrusions Limited -05-FEB-08 —-80-85 — 6375 — 0.13
IRB Infrastructure Dev -05-FEB-08 —-185-220 — 5550— 0.06
Emaar MGF Land Limited- 06-FEB-08—- 540-630— 5400— 0.02
Manjushree Extrusions Limited- 06-FEB-08 — 45—- N/A—- N/A