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 Pantaloon Retail buying nearly 1 crore shares at Rs. 8 or whererabouts.
Very few of the IPOs have done well this year, the notable exceptions being Lovable Lingerie (up 50%) and Sudar Garments (up 60%). Most of the others are down, with Acropetal losing 65%, PTC Financials down 30% and even the recently listed Muthoot Finance just below it’s IPO price.
Not that other years are better, but that’s a story for a different post.
