Lull before the storm

Viveat Susan Pinto
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Thursday , February 21, 2008 at 0042 hrs the bourses would increase our profile with international players with whom we intend doing business going forward.” This need to increase credibility, profile and net worth implies that often valuations are stretched and price bands aggressive during listing.

In fact, the main reason attributed to the current IPO bubble burst is that companies were too aggressive with their list prices. So what is the way forward in the current scenario?

“Being patient is one way out,” says Lokesh Nathany, national head, distribution, wealth management & PMS, Almondz Global Securities Ltd. “Large issues are clearly not the flavour of the season. Moreover, if an issue is aggressively priced, there are chances that investors may not subscribe to it. So if a company is seeking better valuations, it would have to wait till the sentiment improves in the market.”...

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