Samvardhana Motherson Finance IPO : Issue withdrawn by SMFL

by khalid on 08/05/2012 · 0 comments

SMFL IPO

Samvardhana Motherson Finance Limited (SMFL) IPO was open for three days and attracted only 0.23 times investments which is very poor. The company has withdrawn its Rs 1665.00 Crore IPO as it was not fully subscribed within the stipulated time.

SMFL public issue subscribed 0.23 times on its final day of subscription. QIB quota of the IPO subscribed most with bids received for 57% shares. The response in Non Institutional, Retail Individual and Employee Reservation quota was worst in recent years. All of these categories received bids only for 1% of the quota allocated.

As per market experts, wrong timing of the IPO and stiff pricing of the shares as two major reasons for the failure of Samvardhana IPO.

SEBI shoud check how ICRA given 4/5 rating to issue and if any thing found wrong then action should be taken against ICRA.

Condition of govt. And govt. Companies are very veak past psu ipo/fpos are trading upto 70% discount. NBCC,NHPC,NTPC,ONGC,PFC,MOIL,SJVNL,PTC FIN,P&S BANK,SHIPING CO,ENGINEARS INDIA,think 100 times before investing in any PSU IPO/FPO.

Stay tuned to BellTheBull for more news on SMFL IPO.

 

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