IPO rollbacks, weak listings may deter Anchor Investors

The withdrawal of Samvardhana Motherson Finance's initial public offering and the weak show put up by most of the recent large-sized offerings may deter prospective investors from anchoring new issues. A few major public issues like Tata Steel, L&T Finance, PTC India Finance and Muthoot Finance, which attracted many leading funds as anchor investors, are currently quoting at a discount of 19% to 45% to their offer prices.