Should You Invest in IPO?
I have never been a Fan of IPOs or NFOs when it comes to investing, but trading in IPO is something that interests me a lot. The main reason for not being an investor in IPO is I see lots of marketing effort in the IPO period to create a hype about the IPO. I was positive on NHPC IPO because the hype was not needed for it to go through.
I recently found All IPOs since 2007 on moneycontrol.com and it was quite interesting list compiled by them. I have copied the link here just for reference as the price of the shares may change in future and for latest price you can check the original source at moneycontrol.com
| Company | Issue Price | Current Price | %Gain/loss |
|---|---|---|---|
| Alkali Metals | 103.00 | 277.00 | 168.93 |
| Power Finance Corporation | 85.00 | 222.00 | 161.18 |
| Kiri Dyes and Chemicals | 150.00 | 389.00 | 159.33 |
| Everonn Systems India | 140.00 | 356.00 | 154.29 |
| ICRA | 330.00 | 826.25 | 150.38 |
| Varun Industries | 60.00 | 142.00 | 136.67 |
| Allied Digital Services | 190.00 | 445.85 | 134.66 |
| Power Grid Corporation of India | 52.00 | 108.50 | 108.65 |
| Religare Enterprises | 185.00 | 384.00 | 107.57 |
| Redington (India) | 113.00 | 230.00 | 103.54 |
| Rural Electrification Corporation | 105.00 | 196.20 | 86.86 |
| Nitin Fire Protection Industries | 190.00 | 342.10 | 80.05 |
| Page Industries | 360.00 | 610.00 | 69.44 |
| Orbit Corporation | 110.00 | 179.00 | 62.73 |
| Cairn India | 160.00 | 249.00 | 55.63 |
| Indian Bank | 91.00 | 130.15 | 43.02 |
| Spice Communications | 46.00 | 60.60 | 31.74 |
| Edserv Softsystems | 60.00 | 77.10 | 28.50 |
| Kaveri Seed Company | 170.00 | 210.40 | 23.76 |
| Mundra Port and Special Economic Zone | 440.00 | 535.00 | 21.59 |
| Gokul Refoils and Solvent | 195.00 | 233.95 | 19.97 |
| OnMobile Global | 440.00 | 526.00 | 19.55 |
| J Kumar Infraprojects | 110.00 | 128.90 | 17.18 |
| MindTree | 425.00 | 490.00 | 15.29 |
| Idea Cellular | 75.00 | 84.25 | 12.33 |
| Burnpur Cement | 12.00 | 13.40 | 11.67 |
| Excel Infoways | 85.00 | 93.75 | 10.29 |
| Mahindra Holidays and Resorts India | 300.00 | 324.15 | 8.05 |
| Fortis Healthcare | 108.00 | 114.60 | 6.11 |
| IRB Infrastructure Developers | 185.00 | 191.45 | 3.49 |
| Adani Power | 100.00 | 102.70 | 2.70 |
| eClerx Services | 315.00 | 316.00 | 0.32 |
| Central Bank of India | 102.00 | 101.00 | -0.98 |
| Avon Corporation | 10.00 | 9.84 | -1.60 |
| Bhagwati Banquets and Hotels | 40.00 | 39.20 | -2.00 |
| Astral Poly Technik | 115.00 | 110.05 | -4.30 |
| Koutons Retail India | 415.00 | 393.00 | -5.30 |
| Omnitech Infosolutions | 105.00 | 97.00 | -7.62 |
| Ackruti City | 540.00 | 497.00 | -7.96 |
| Zylog Systems | 350.00 | 300.00 | -14.29 |
| Suryachakra Power Corporation | 20.00 | 17.10 | -14.50 |
| KSK Energy Ventures | 240.00 | 204.30 | -14.87 |
| BGR Energy Systems | 480.00 | 407.10 | -15.19 |
| Lotus Eye Care Hospital | 38.00 | 31.90 | -16.05 |
| V-Guard Industries | 82.00 | 68.65 | -16.28 |
| Meghmani Organics | 19.00 | 15.50 | -18.42 |
| Advanta India | 640.00 | 506.00 | -20.94 |
| Binani Cement | 75.00 | 59.05 | -21.27 |
| Cambridge Technology Enterprises | 38.00 | 29.00 | -23.68 |
| Raj Oil Mills | 120.00 | 91.00 | -24.17 |
| DLF | 525.00 | 390.50 | -25.62 |
| SEL Manufacturing Company | 90.00 | 65.10 | -27.67 |
| Supreme Infrastructure India | 108.00 | 78.10 | -27.69 |
| Indowind Energy | 65.00 | 44.10 | -32.15 |
| Simplex Projects | 185.00 | 125.15 | -32.35 |
| Barak Vally Cements | 42.00 | 28.35 | -32.50 |
| Transformers and Rectifiers India | 465.00 | 301.90 | -35.08 |
| C and C Constuctions | 291.00 | 186.10 | -36.05 |
| Aishwarya Telecom | 35.00 | 22.10 | -36.86 |
| Saamya Biotech India | 10.00 | 6.15 | -38.50 |
| Gammon Infrastructure Projects | 167.00 | 102.50 | -38.62 |
| Bafna Pharmaceuticals | 40.00 | 24.00 | -40.00 |
| Shriram EPC | 300.00 | 178.65 | -40.45 |
| KNR Constructions | 170.00 | 99.00 | -41.76 |
| Insecticides India | 115.00 | 66.00 | -42.61 |
| Housing Development and Infrastructure * | 500.00 | 286.05 | -42.79 |
| 20 Microns | 55.00 | 31.30 | -43.09 |
| Pochiraju Industries | 30.00 | 17.00 | -43.33 |
| Rishabhdev Technocable | 33.00 | 17.85 | -45.91 |
| Firstsource Solutions | 64.00 | 34.10 | -46.72 |
| Ankit Metal and Power | 36.00 | 19.10 | -46.94 |
| Consolidated Construction Consortium | 510.00 | 270.00 | -47.06 |
| Edelweiss Capital | 825.00 | 435.00 | -47.27 |
| Titagarh Wagons | 540.00 | 282.00 | -47.78 |
| Lumax Auto Technologies | 75.00 | 37.85 | -49.53 |
| Glory Polyfilms | 48.00 | 23.05 | -51.98 |
| Birla Cotsyn India | 14.00 | 6.69 | -52.21 |
| Archidply Industries | 74.00 | 34.20 | -53.78 |
| Refex Refrigerants | 65.00 | 29.90 | -54.00 |
| GSS America Infotech | 400.00 | 182.50 | -54.37 |
| IBN18 Broadcast * | 250.00 | 108.00 | -56.80 |
| Shree Ashtavinayak Cine Vision | 160.00 | 68.30 | -57.31 |
| Gremach Infrastructure Equipments and Projects | 86.00 | 35.90 | -58.26 |
| Aries Agro | 130.00 | 52.25 | -59.81 |
| Asian Granito India | 97.00 | 36.90 | -61.96 |
| Sita Shree Food Products | 30.00 | 11.40 | -62.00 |
| Celestial Labs | 60.00 | 22.70 | -62.17 |
| Chemcel Biotech | 16.00 | 6.01 | -62.44 |
| Autoline Industries | 225.00 | 82.00 | -63.56 |
| SMS Pharmaceuticals | 380.00 | 135.00 | -64.47 |
| Reliance Power * | 450.00 | 158.20 | -64.84 |
| MIC Electronics * | 150.00 | 52.40 | -65.07 |
| Omaxe | 310.00 | 107.50 | -65.32 |
| Kaushalya Infrastructure Development Corporation | 60.00 | 20.80 | -65.33 |
| Technocraft Industries (India) | 105.00 | 36.35 | -65.38 |
| AMD Industries | 75.00 | 25.95 | -65.40 |
| Sejal Architectural Glass | 115.00 | 39.55 | -65.61 |
| Future Capital Holdings | 765.00 | 263.00 | -65.62 |
| Manaksia | 160.00 | 53.65 | -66.47 |
| Precision Pipes and Profiles Company | 150.00 | 49.85 | -66.77 |
| Cinemax India | 155.00 | 51.05 | -67.06 |
| Circuit Systems (India) | 35.00 | 11.50 | -67.14 |
| Bang Overseas | 207.00 | 66.45 | -67.90 |
| Resurgere Mines and Minerals India | 270.00 | 86.00 | -68.15 |
| Puravankara Projects | 400.00 | 126.70 | -68.33 |
| Kolte-Patil Developers | 145.00 | 45.90 | -68.34 |
| Cords Cable Industries | 135.00 | 41.70 | -69.11 |
| Somi Conveyor Beltings | 35.00 | 10.80 | -69.14 |
| Magnum Ventures | 30.00 | 9.24 | -69.20 |
| Lawreshwar Polymers | 16.00 | 4.89 | -69.44 |
| Rathi Bars | 35.00 | 10.29 | -70.60 |
| Nu Tek India | 192.00 | 55.45 | -71.12 |
| Niraj Cement Structurals | 190.00 | 54.70 | -71.21 |
| Roman Tarmat | 175.00 | 48.65 | -72.20 |
| Brigade Enterprises | 390.00 | 108.40 | -72.21 |
| Empee Distilleries | 400.00 | 111.15 | -72.21 |
| Hilton Metal Forging | 70.00 | 19.10 | -72.71 |
| Asahi Songwon Colors | 90.00 | 24.55 | -72.72 |
| Renaissance Jewellery | 150.00 | 40.20 | -73.20 |
| Euro Ceramics | 165.00 | 43.80 | -73.45 |
| Austral Coke & Projects * | 196.00 | 52.00 | -73.47 |
| Mudra Lifestyle | 90.00 | 22.85 | -74.61 |
| Tulsi Extrusions | 85.00 | 21.55 | -74.65 |
| KPR Mill | 225.00 | 56.00 | -75.11 |
| Pyramid Saimira Theatre | 100.00 | 23.40 | -76.60 |
| Maytas Infra | 370.00 | 85.10 | -77.00 |
| Vishal Retail | 270.00 | 60.30 | -77.67 |
| Tanla Solutions * | 265.00 | 58.15 | -78.06 |
| Transwarranty Finance | 52.00 | 11.12 | -78.62 |
| Alpa Laboratories | 68.00 | 14.37 | -78.87 |
| Oriental Trimex | 48.00 | 9.79 | -79.60 |
| Nelcast | 219.00 | 43.20 | -80.27 |
| Abhishek Corporation | 100.00 | 19.65 | -80.35 |
| Raj Television Network | 257.00 | 49.30 | -80.82 |
| Decolight Ceramics | 54.00 | 10.15 | -81.20 |
| Broadcast Initiatives | 120.00 | 22.45 | -81.29 |
| House of Pearl Fashions | 550.00 | 102.55 | -81.35 |
| Jyothy Laboratories * | 690.00 | 125.00 | -81.88 |
| Motilal Oswal Financial Services * | 825.00 | 146.00 | -82.30 |
| First Winner Industries | 125.00 | 21.80 | -82.56 |
| Jagjanani Textiles | 25.00 | 4.00 | -84.00 |
| Indus Fila | 170.00 | 24.60 | -85.53 |
| Dhanus Technologies | 295.00 | 41.65 | -85.88 |
| Time Technoplast * | 315.00 | 44.00 | -86.03 |
| Porwal Auto Components | 75.00 | 10.35 | -86.20 |
| IVR Prime | 550.00 | 75.80 | -86.22 |
| Vijayeswari Textiles | 100.00 | 12.65 | -87.35 |
| Vishal Information Technologies * | 150.00 | 18.50 | -87.67 |
| Anus Laboratories * | 210.00 | 11.99 | -94.29 |
| Take Solutions * | 730.00 | 40.60 | -94.44 |
| Allied Computers International (Asia) | 12.00 | 0.51 | -95.75 |
| Evinix Accessories * | 120.00 | 3.34 | -97.22 |
* Not adjusted for subsequent rights, bonus and splits announced by the company.
Looking at the list there are some very interesting things to watch.
- As of today 24th August 2009 there are 32 IPOs which are in positive and 120 of them in negative territory.
- There are 10 IPOs which are above 100% gain.
- There are17 others which are in double digit gains from the listing price and rest are in single digit gains.
- Though not adjusted for splits, rights, bonus out of 120 in negative territory only 7 are in single digit negative territory and rest are ranging losses of 14 to 97%
This conclude what I said that never invest in IPO but yes it may be a good option to do some trading and if you are really looking to invest into it do that after some days of listing of the issue.
Apart from Adani Power IPO and its listing, I can think of one more example which I can think of is of DLF IPO which was priced close to 500 and I sold off on the day it listed close to 600 and then it went up to touch 1000 and I was just hitting my head on the wall as to why I sold it off but now is really happy that I sold off and have invested in DLF much much below its issue price.
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