The Reliance IPO tragedy was something waiting to happen (?Bears maul Reliance Power listing?, Feb 12). It has once again brought to fore the plight of the gullible many who lost their hard-earned money because of the vested interests of some parties. What is most disappointing is the passive role played by Sebi and the finance ministry in this fiasco. What regulatory role did both play? Why was Reliance Power valued at over seven times its book value?when established players like NTPC and Tata Power are quoting at less than five price-to-book multiples? Why was a share which was bought by Anil Ambani himself for Rs 10, offered to the public at a premium of Rs 450? While Anil Ambani added a few more crores to his coffers, it was the general public which had been taken for a ride. What?s more, the irresponsible role of Sebi has let it down, too.
?Manpreet Singh
Omnipresent ogler
Even the combined search market share of Yahoo! and Microsoft is not enough to match the figure of Google (?Go ogle?, Feb 13). Microsoft?s attempt to buy Yahoo! only underlines the omnipresence of Google in the search world.
?P Senthil Saravana Durai, Hyderabad
Disgraceful exit
Natwar Singh exits the party (?Natwar quits Cong?, Feb 14) in disgrace and after frittering away his political capital. Wouldn?t it have been better for him to quit the very day in 2006 he assailed the PM?
?J Anand Menon, Kochi