Friday, June 15, 2012

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.

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