The meltdown in the domestic stock market has led the shrunk the country's primary market by more than 10 times during April-August 2008 as against the corresponding period in 2007.According to the data released in the November bulletin of the Reserve Bank of India, only 25 non-government public limited companies. managed tap the capital market in the present market condition to mobilise, a diminutive Rs 2,661 crore between them.
This is more than 10 times lower than amount India Inc earned (Rs 26,957 crore) during April to August 2007.Due to the fear of economic crises, many companies have allowed their IPO clearances to lapse to avoid compromising on their valuations. The chances of drawing a good premium on face value become lower when the secondary market gets battered.
This is more than 10 times lower than amount India Inc earned (Rs 26,957 crore) during April to August 2007.Due to the fear of economic crises, many companies have allowed their IPO clearances to lapse to avoid compromising on their valuations. The chances of drawing a good premium on face value become lower when the secondary market gets battered.
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