Invest, But Cautiously
Many of the recent initial public offerings were aimed at providing earlier investors an exit route rather than capital formation.
If it was not for some of our investors looking for an exit, we might have not listed our company," says Murugavel Janakiraman, CEO, Matrimony.com. The company, whose initial public offering, or IPO, in September mopped up nearly Rs500 crore at Rs985 per share, got only Rs 130 crore, as the rest went to exiting investors. The stock was subscribed 4.5 times but, since its listing, has had a tepid run, ending the first listing day at Rs901.20. As of September 26, it was down to Rs801.90, 18.5
