IPOs have gone down massively in the recent past (see IPOs largely suck in 2010-11) and a large number of them have gone down over 80% from listing prices. Many are small issues, manipulated up on the first day, attracting investors, only to later slump to levels hitherto unheard of. SEBI now has announced norms [...]

Posted in Credit Repair, IPO, SEBI Comments Off

How useful have IPOs been in the last two years? Not very, it turns out. (Click to enlarge) The average return, till date, is (– 30.1%). The index has dropped about 25% from the peak. Even government owned company IPOs like MOIL, Engineers India and SJVNL have deeply negative returns. I need to do a [...]

Posted in ChartOfTheDay, Credit Repair, IPO Comments Off

A recent IPO at the face value of 10 – which was as good as Gold dust – has been dissapointing. Future Ventures, a Biyani Group company, has seen it’s price fall all the way to 8.70 in two days. The fall has been cushioned partly by promoter-owned P…

Posted in Credit Repair, FUTUREVENT, IPO, PANTALOONR, Stocks Comments Off

The performance of IPOs in 2010-11 has been fairly pathetic, with the average return being -13% on the NSE. Removing BSE only stocks, I’ve charted a list of IPOs that happened this year, with their returns till last friday. The best returns are of sto…

Posted in Credit Repair, IPO Comments Off

So the gym chain Talwalkars is going to go public. Notes: They’re raising 78 cr., with 60 lakh shares at an issue price of 123 to 128 rupees. That’s for 25% of the company, so the valuation is 312 cr. post money, 234 cr. pre. Revenue in …

Posted in Credit Repair, IPO Comments Off

The recent IPO of Persistent Systems was hugely oversubscribed – over 92 times. Yet, today’s listing, in a market that is at a two year high, was strangely benign. The IPO was built at Rs. 310. The stock opened at 361, touched a high of 447 in minu…

Posted in Credit Repair, IPO Comments Off

On it’s website, SEBI has released an excellent “Guide to understand and Offer Document” and instantly has also made it so difficult to find that one needs a “Guide to navigate the SEBI web site”, which is also a Ph.D. qualification in most c…

Posted in Credit Repair, IPO Comments Off

I’ve been asked about the NMDC IPO  – a follow on public offer that involves a sale by the Government of India, of 33 crore shares. The price band is between 300 and 350 for the mining company. Retail investors get a 5% discount on the discovere…

Posted in Credit Repair, IPO, NMDC Comments Off

Mint reports: Institutional investors [will] now pay 100% of the bid amount upfront while bidding in an IPO, a far cry from the days when they didn’t have to put up any margin money and allotment to them would be on a discretionary basis by merch…

Posted in Credit Repair, IPO Comments Off

A stock out of nowhere propelled to new highs today (ok, technically anything is a new high for a freshly listed stock). A 58% listing gain saw Jubilant Foodworks close at 229 today: (HT: @prashantsolanki) ET Story: A spectacular debut by Jubil…

Posted in Credit Repair, IPO Comments Off