IPOs: Incredibly Poor Offerings?
After the IPO boom of 2007 and early 2008, the pace & performance of IPOs has taken a cliff-dive. Here’s some statistics:
# IPOs at NSE in 2007: 95
# IPOs at NSE in 2008 (ytd): 35
But, # IPOs in past few months?
- October - 2 (Alkali Metals, in progress & 20 Microns, down 45% from Issue price)
- September - 2 (Resurgere, Austral; the former is down 65% from Issue price)
- August - 2 (Nu Tek, Vishal IT; the former is down 73% from Issue price)
- July - 6 (all of which are cut in half since Issue)
- June - 1
- May - 0
Ouch. I-Bankers musn’t be happy. Watch out for this quarter’s results.
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