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The Indian IPO Market in Early 2008
Introduction
In the first half of February 2008, Wockhardt Hospitals Ltd. (Wockhardt),7 Emaar MGF Land Ltd. (Emaar MGF)8, and SVEC Constructions (SVEC)9 withdrew their Initial Public Offerings (IPOs) owing to poor investor response. Some analysts were of the opinion that overpricing was the main reason for their withdrawal, while others felt that the turmoil in the global financial markets had played a larger role. Still others were of the view that the IPO of Reliance Power Ltd. (RPL),... |
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part of the Reliance Anil Dhirubhai Ambani Group10 (ADAG), which opened on January 15, 2008, was responsible for the tepid response to these three IPOs, as the RPL IPO had sucked out liquidity from the market...
Introduction Contd...- Next Page>>
