Recently listed stocks trade below offer price
For investors who weren’t lucky enough to be allotted shares in recent IPOs (initial public offerings), last week’s downtrend of market presented a fresh entry point to these stocks at bargain prices.
There are 14 companies listed on the exchanges in 2009. Shares of nine companies were trading below their issue prices while five were above the issue prices, according the closing prices as on 30th October 09.
Edserv Soft jumped over 200% and Thinksoft shot up over 81%. However, Rishabhdev Tech and Raj Oil Mills fell the maximum over 40%.
Three power stocks also slipped below issue price. Out of which, Indiabulls Power listed on 30th Oct 09 and closed below its issue price of Rs 45 on first day.
| Equity | Issue Price Rs. | Current Price Rs. | Gain/Loss % |
|---|---|---|---|
| EuroMult | 75 | 31.65 | -57.8 |
| Raj Oil Mills | 120 | 62.35 | -48.04 |
| Rishabhdev | 33 | 19.55 | -40.76 |
| Globus Spirits | 100 | 78.3 | -21.7 |
| Excel Infoways | 85 | 70.95 | -16.53 |
| NHPC | 36 | 30.5 | -15.28 |
| India B Power | 45 | 39.25 | -12.78 |
| Pipavav | 58 | 53 | -8.62 |
| Adani Power | 100 | 97.8 | -2.2 |
| Oil India | 1050 | 1113.7 | 6.07 |
| Jindal Cotex | 75 | 82.05 | 9.4 |
| Mahindra Holiday | 300 | 342.2 | 14.07 |
| Thinksoft | 125 | 226.7 | 81.36 |
| Edserv Softsyst | 60 | 189.7 | 216.1 |
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