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Damn my keyboard, haha. The IPO was on 19 Oct 2012 2.00pm. and not 9/10/2012.
The poor showing of Religare would likely, in my opinion, affects future Indian IPOs as compared with other offerors say from China or Thailand for example. Credibility of sponsors are also hanging on the balance. Pre book running prices were originally targeted at 77 cents at the lower end, but the higher range of 90 cents was subsequently " fixed" .
On opening Friday 9/10/2012 at 2.00 pm., the price began to drop and the next session saw it down to a low of 76 cents.
There was too much selling by insiders, causing cut losses by subscribers. Today it will open below 80 cents. Really poor show!!
