FY 2006 was a better year for IPOs

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posted on 17 years ago — updated on 1 second ago

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Companies that came out with their IPOs seem to have performed better in the financial year 2006.

Mumbai: Companies that came out with their initial public offerings or IPOs seem to have performed better in the financial year 2006 than in financial year 2007.

In FY2007, 87 companies have come out with their IPOs so far and among them stock prices of 39 companies have appreciated and are trading above their issue price.

While in FY 2006, out of the 83 companies that came out with IPOs, 53 of them are trading strong as against their issue price.

Tech Mahindra is leading the pack of companies that came out with IPOs in fiscal 2007. The company came out with the issue on August 1, 2006 and got listed on August 28. The offer price was at Rs 365 and it got listed at Rs 525. The stock has beefed up gains by 345.14 per cent since.

The second in line is Pyramid Saimira Theatre. The company had come with its IPO on December 11, 2006 at an issue price of Rs 100 and got listed on Jan 5, 2007. In five months, the stock has gained by 256.55 per cent as against its issue price.

Development Credit Bank has appreciated by 193.27 per cent against its issue price. It came out with an issue price of Rs 26 in October 2006 and got listed at Rs 35. The other companies that have made it to this list are Atlanta, Global Broadcast News, Tantia Constructions, Info Edge India etc.

Educomp Solutions is the topmost company in the list of companies that came out with IPOs in fiscal 2006. This is follwed by Saksoft, Everest Kanto, Tulip IT, India Infoline etc.

Educomp Sols is trading at 948 per cent gains against its issue price of Rs 125. The company got listed on January 13, 2006. Saksoft, Everest Kanto, Tulip IT and India Infoline are respectively trading above their issue price by 566.67 per cent, 538.41 per cent, 492.33 per cent and 436.91 per cent.

Saksoft got listed on February 24, 2006, Everest Kanto on December 15 2005, Tulip IT on January 5, 2006 and India Infoline on May 17, 2005. Out of the total IPOs that came out in financial year 2006 and 2007, around 63 per cent are trading above their issue prices in FY06.

(Source: Moneycontrol.com)