It’s official now, and confirmed. Wockhardt Hospitals have cancelled the IPO and it will not be going further with the public listing. The reason for cancellation was the the really poor response to the IPO.
Interestingly, the company has no plan in place to tell what they will do to collect the money they were supposed to receive from this IPO. Whether they will go with the private equity players, or will they take a loan, nothing is in place now.
Another interesting part is that among the different segment of subscribers, it was the Retail subscribers portion that got the maximum response (in terms of multiple of subscription). Rest all QIB, HNI, etc were really really meager.
The management attempted all tactics to attract investors -lowering the price bank, extending the IPO offer period. But investors just did not respond.
Emaar MGF situation is no good either. They have extended the bidding date to 11th February and reduced the price by Rs. 10.
Another issue that is currently open, SVEC Construction has not received EVEN A SINGLE BID in its QIB portion as on 7th Feb according to NSE data.
Fantastic way the markets work!
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Wockhardt is promising the investors to refund their money in15 days. 7 days already for the issue to open, another 15 days for refund, for a cancelled IPO. Who will loose on the interest for these 23 days? That’s why it is said – MARKETS WORK RANDOMLY. Play it safe! | Table of Contents |
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