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Won't subscribe to NMDC FPO: Sandeep Madan
The follow-on public offer of NMDC opened for subscriptions today. In an exclusive interview with CNBC-TV18, Sandeep Madan, High Networth Individual, speaks about the issue and gives his outlook going forward.
Q: So let us talk about a couple of IPOs then, what about something like a DQ Entertainment, is that more interesting or lucrative for an HNI to invest in?
A: Basically the story with the IPOs as of the recent past, except for a couple of exceptions like Cox & King and a couple others, the complete story on IPOs and FPOs has been a disappointment for investors. Most of it, I would attribute to the merchant bankers, lead managers, the way they try to get the best without leaving anything for the investor on the table. Based on that without getting into the specifics or naming any of these particular ones, we have a stream of IPOs that are to come, a few of them open right now and a few of them opening in very near future, my basic concern on these has been the pricing. Everything is good for a price and the same thing could be bad for a higher price. So most of it has to do with the pricing except for a certain company could be bad fundamentals itself, but then those are very few and far. The major issue is the pricing.
