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2/3 of cos listed this year trading in red: BSE survey

Thursday, December 30, 2010
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New Delhi: In contrast to handsome gains made in the primary market, nearly two-third of the 69 companies listed on bourses during 2010 are trading below their issue prices, resulting into negative returns for investors. An analysis of the BSE-listed companies shows that as many as 44 out of the 69 stocks are trading below their issue prices fixed after their initial public offers. Seventy firms, comprising 59 private sector firms and 11 PSUs, came up with an public offer this year, raising Rs 71,114 crores in the process. Of the 11 PSUs issues, the Punjab & Sind bank is the latest entrant: it got listed today and, therefore, has not been taken into account. Meanwhile, a host of companies are rushing in to file their draft prospectus' with market regulator Sebi for launching their IPOs.
Source: PTI
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