Inferior Public Offerings

Our world is changing around us, and unfortunately, not for the better. And as far as the world of the Indian stock markets is concerned, it is witnessing nothing short of a disaster. It all started in the beginning of the year when the Sensex fell from its majestic standings to be down by 30 per cent in a mere two months. As of now, the Sensex is hovering around the 13K-14k mark, and that too with much difficulty. One of the obvious aftereffects of this has been the dented sentiments of the Indian investor. While the primary markets have predictably suffered, the secondary markets haven't fared that well either. A number of equity offerings, even those of large companies, have taken a beating. After the withdrawal of the initial public offerings of Wockhardt Hospitals and Emar MGF in the first quarter of 2008, the issues t

This article was originally published on July 17, 2008.