Jaypee Infratech which is one of the low quality offerings (IPOs) to list in the Indian market fell 10% on the very day of the listing.This is despite allocating shares at the lowest end of the book building range.This is also despite hiring a record number of Nine Investment Banks to sell the issue.However Jaypee […]

Most of the low quality IPOs that have listed in the Indian market recently, have fallen on the day of the listing itself.Jaypee Infratech which is supposed to be a mix of a infrastructure and real estate play is down 10% on the listing day despite listing itself at the lower end of the book […]

India has been hit with a wave of extremely low quality IPOs in the recent past . These offerings have extremely poor fundamentals and plunge immediately after listing or become a case of “pump and dump” . Nitesh Estates is not only belongs to the  almost impossible to value “real estate” sector,it has a very […]

I have been writing that the slew of low quality offerings in the Indian market may herald a market high.But this might not be the case with the world leaders pouring money like water throught bailout packages and loan guarantees.So our testotorene fueled markets might  grind higher and higher till all the cumulative problems come […]

The Junk Indian IPO  market is not having too much success.Most of  the low quality IPOs are managing to scrape through at just over one time subscription.Jaypee Infratech despite hiring 9 investment banks to sell its IPO just managed to get 1.2 times subscription . Moreover this was done at the lower end of the […]

How do people invest in Indian real estate is beyond me. They are almost impossible to value, are mostly embroiled in cases,have short operating histories and a lot of them have dubious managment.Let me elaborate 1) I have not found a single brokerage report from the “sophisticated” banks that give any decent way to value […]