Thursday, December 3, 2009

Some Thoughts on IPOs - Part 2

This is an extension to the first part of this post. Here are the ones excluded from yesterday's post:

CompanyIPO timeOffered EquityTimes SubscribedRaised MoneyMarket Cap Today
First Winner IndustriesJune 200831.02%1.1468.75 Crore33 Crore
Niraj Cement StructuralsMay 200831.42%1.0761.75 Crore54 Crore
Sita Shree FoodMarch 200847.65%2.4131.5 Crore20 Crore
Tulsi ExtrusionsFebruary 200845.62%1.8348.45 Crore35 Crore
Bang overseasJanuary 200827%1.1372.45 Crore68 Crore
Cords CableJanuary 200827%4.6341.65 Crore46 Crore
Porwal AutoDecember 200733.11%137.5 Crore15.5 Crore
Precision PipesDecember 200735.71%10.5975 Crore91 Crore
Kaushalya InfrastructureNovember 200740.93%5.88451 Crore39 Crore
Renaissance JewelleryNovember 200737.99%2.7579.86 Crore92 Crore
Dhanus TechnologiesSeptember 200721.37%28.29113.13 Crore58 Crore
Magnum VenturesAugust 200746.92%2.7552.92 Crore33 Crore
Alpa LaboratoriesJuly 200744.06%0.94564.6 Crore25 Crore
Roman TarmatJune 200725%29.2650.75 Crore59 Crore
Vishal RetailJune 200716.85%76.12110 Crore150 Crore
NelcastJune 200725%795.26 Crore102.5 Crore
Decolight CeramicsMay 200742.98%1.743.45 Crore18.5 Crore
Asahi SongwonMay 200730.33%2.1233.5 Crore36 Crore
Abhishek MillsFebruary 200729.27%1.2441 Crore43 Crore

The total money raised by all these companies comes to about INR 3500 Crore. The market value of the same shares today is less than INR 900 Crore, 25% of original investment even after 4 years in some cases. Not just the fractional ownership, the whole companies can be bought today for less than INR 2900 Crore. This surely is just one side of the coin. There were some good issues too, like Educomp, ICRA, etc... which have given decent returns to investors but the risk was not worth taking.
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