SVEC Constructions withdraws IPO
After Emaar MGF, Wockhardt Hospitals and Globus Spirtis withdrawal of IPOs, SVEC Constructions also has withdrawn its IPO due to weak response. The company had lowered the price band to Rs 80-90 from Rs 85-95 and extended the closing date to February 13 from February 8 but that did not support the issue. Yesterday’s weak listing of Reliance Power also may be one of the reasons. The SVEC Constructions IPO refund is also expected in next 15 days.
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