Wednesday, May 18, 2011

Galaxy Surfactants IPO withdraw

Galaxy Surfactants Ltd IPO withdrawn due to poor response. Lead Manager finally had withdrawn the IPO one day before its official closing date.

As per NSE website:

"Book Running Lead Manager to the issue has informed the Exchange that the Book Building issue of GALAXY SURFACTANTS LIMITED has been withdrawn".

Many IPO’s recently failed to impress investors because of poor listing gains. Also few high profile IPO’s and FPOs are still traded below the issue price. These are among few reasons investors are not much interested in highly priced public issues.

Galaxy Surfactants IPO becomes the first issue failed to impress investors in year 2011. Fatpipe Networks India Ltd was the last failed issue almost a year back. Two issues were failed in last year including Tara Health Foods Limited and Fatpipe Networks India Ltd.

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