SVEC IPO extends to Feb 13, IPO price revised to Rs 80-90

Posted by admin

February 8, 2008

Bad Indian markets in first two months of 2008, are proved to be really bad for primary market. This is the third IPO that has to revise it’s price band. SVEC Constructions has revised it’s price band to Rs 80-90 and also extended the IPO last date to 13th Feb from 8th Feb. The company has experience in the areas of building and irrigation works.

This Hyderabad based company, SVEC Constructions has entered capital market with an initial public offering of 40 lakh equity shares of Rs 10 each on February 4. But the issue got subscribed just 0.20 times.

I really don’t understand how overrated these companies are while the market is up and booming. Small investors end up in paying a high premium to these companies. It’s fact which is difficult to digest.

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