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  • MumbaiMirror - Oct 13, 2008 - IPOs of 2007 Witness Value Erosion of Over USD 3 BN So Far

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    The Indian IPO market has dried up in 2007, with the total value of IPOs dropping by around USD 3.43 billion. While 2007 saw record IPO volumes of USD 8.18 billion raised, rough market conditions have led to negative returns of 42% for IPOs issued so far this year. The media sector has been hit worst, according to a report from Nexgen Capitals, which notes that excess bullishness in the market last year has contributed to the current bear market, making fund raising more difficult.

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    MumbaiMirror_Oct 13, 2008_IPOs of 2007 Witness Value Erosion of Over USD 3 Bn So Far

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    The Indian IPO market has dried up in 2007, with the total value of IPOs dropping by around USD 3.43 billion. While 2007 saw record IPO volumes of USD 8.18 billion raised, rough market conditions have led to negative returns of 42% for IPOs issued so far this year. The media sector has been hit worst, according to a report from Nexgen Capitals, which notes that excess bullishness in the market last year has contributed to the current bear market, making fund raising more difficult.

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    10 views1 page

    MumbaiMirror - Oct 13, 2008 - IPOs of 2007 Witness Value Erosion of Over USD 3 BN So Far

    Uploaded by

    Jagannadham
    The Indian IPO market has dried up in 2007, with the total value of IPOs dropping by around USD 3.43 billion. While 2007 saw record IPO volumes of USD 8.18 billion raised, rough market conditions have led to negative returns of 42% for IPOs issued so far this year. The media sector has been hit worst, according to a report from Nexgen Capitals, which notes that excess bullishness in the market last year has contributed to the current bear market, making fund raising more difficult.

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    IPOs Of 2007 Witness Value Erosion Of Over USD 3 Bn So Far

    The Indian primary market has virtually dried up as the total value of initial public offering of 2007 has
    witnessed an erosion of about USD 3.43 billion so far this year, with the media space being worst hit, a
    latest report says.

    The bullish trend in the capital market was see in the IPO volume of 2007, as a record volume of USD
    8.18 billion was raised.

    However, rough market conditions have resulted in a negative return of about 42 per cent or a value
    erosion of USD 3.43 billion in absolute terms till October 10, according to a report of Nexgen Capitals,
    the merchant-banking arm of brokerage firm SMC Global Securities.

    "In a bear market fund raising activity becomes very difficult. Excess of bull market last year has resulted
    in the bear market this year. In a bull market takers for every issue at every level can be found but today's
    market is a buyers market," NEXGEN Capitals Equity Head Jagannadham Thunuguntla said.

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