Markets beat down prices of new issues
Mumbai: All major new initial public offers (IPO) made during the last one month have seen their share prices quoting at significantly lower prices than the initial listing price. Especially hit are the IT, media and entertainment scrips, which opened at huge premiums on listing.

The losers include TV18, Glenmark Pharmaceuticals, Melstar Information, Zenith Infotech and Software Technologies Group, all of which are quoting at a discount of 15-50 per cent of their initial listing price. Almost all the IPOs' that hit the market recently received an overwhelming response from investors.
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