A whopping 22 IPOs called off in 2012
03 July 2012
A whopping 22 initial public offerings (IPOs), which would have raised an aggregate of Rs8,392 crore, were called off in 2012 after failing to come out with offerings within the validity period.
The list of the 22 companies includes Reid & Taylor, Tata Autocomp, Micromax, Embassy Property, Joy Alukkas, Lokmat Media, VRL Logistics, Aravali Infrapower and Semantic Space Technologies among others.
This is in addition to the call-off of IPO by 29 companies in 2011.
The probable amount that these 29 companies were planning to raise would have been Rs32,400 crores, Jagannadham Thunuguntla, strategist and head of research, SMC Global Securities Ltd said.
''All these 51 companies had valid SEBI approval in hand for their IPOs. Even then, they couldn't open their IPOs within the validity period of one year from the date of SEBI approval,'' Thunuguntla added.
Starting 1 January 2011 till date, about 51 IPOs were called off. The total amount they were expected to raise was about Rs 48,502 crore.