Zee News - Sept16, 2008 - Investors in IPOs lost over Rs 5,000 cr in 2008

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"Out of 34 IPOs issued this calendar year, 26 of them closed below their issue price last week.
These IPOs have raised Rs 16,920 crore but the current value stands at Rs 11,562 crore. So they
are suffering a loss of 31.67 per cent," said Jagannadham Thunuguntla, Equity Head, NEXGEN
Capitals limited

Published in: Economy & Finance, Business
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Zee News - Sept16, 2008 - Investors in IPOs lost over Rs 5,000 cr in 2008

  1. 1. Investors in IPOs lost over Rs 5,000 cr in 2008 New Delhi, Sept 15: Primary market investors have lost more than Rs 5,000 crore with shares of most of companies, which came out with initial public issue since January, trading at a discount. Out of 34 IPOs issued this calendar year, 26 of them closed below their issue price last week. These IPOs have raised Rs 16,920 crore but the current value stands at Rs 11,562 crore. So they are suffering a loss of 31.67 per cent, said Jagannadham Thunuguntla, Equity Head, NEXGEN Capitals Limited. He said five companies which include JSW Energy, RNS Infrastructure, Ybrant Technologies, Elysium Pharma and Kamayani Patients Care, with the proposed issue of more than Rs 4,000 crore, withdrew their IPOs prior to SEBI approval. In 2008, 20 companies did not tap the primary market despite approval from SEBI due to uncertainty in the markets. Shares of eight out of ten companies which got listed on stock markets during second quarter of the cu

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