Press Esc to close
Friday 29 August 2014
News updated at 10:12 PM IST
Weather
Max: 25.6°C
Min : 19.7°C
In Bangalore
Generally cloudy

'I-bankers need to introspect their roles'

Mumbai, Dec 19, 2012, DHNS:

Sebi on Wednesday suggested investment bankers (I-bankers) to introspect their role on the price discovery mechanism in primary markets even as retail investors are more often clueless over their returns as scores of stocks are trading way below the listing price.

“The very credibility of our markets is at stake and I-bankers need to introspect whether their behaviour challenges the entire merit-based versus price discovery mechanism or not. We need some amount of sanity in pricing and IPO disclosures,” Sebi Chairman U K Sinha said here while inaugurating a summit of i-bankers.

Sinha pointed out that many of the newly listed stocks are trading below listing price saying, “There is something wrong if two-thirds of the issues between 2009 and 2012 are trading below market decline levels. Call auction data shows that volatility on opening day has reduced considerably.”


Sebi, he continued, noticed in some IPOs that due diligence wasn’t done. “Assets mentioned were either missing or weren’t even mentioned,” he added.

Go to Top

Photo Gallery
Union Railway Minister Sadananda Gowda during a visit to Ernakulam railway station in Kochi ...

Union Railway Minister Sadananda Gowda during a visit to Ernakulam railway station in Kochi ...

Bomb Squad members checking a suspected bag found at Bandra Station in Mumbai ...

Bomb Squad members checking a suspected bag found at Bandra Station in Mumbai ...

Red Cross workers walk through an Ebola hit area  in Monrovia, Liberia ...

Red Cross workers walk through an Ebola hit area in Monrovia, Liberia ...

Models take part in awareness campaign 'Save Ganga and Green India' in Bhopal ...

Models take part in awareness campaign 'Save Ganga and Green India' in Bhopal ...

Siddaramiah presenting kit to a beneficiary  during launch of 'Pradhan Mantri Jan-Dhan Yojana' ...

Siddaramiah presenting kit to a beneficiary during launch of 'Pradhan Mantri Jan-Dhan Yojana' ...

Ganesh idol made of dry fruits ahead of Ganesh Chaturthi festival in Mumbai ...

Ganesh idol made of dry fruits ahead of Ganesh Chaturthi festival in Mumbai ...

A young girl viewing Ganesh statues for sale on the eve of the Ganesh Chaturthi in Jaipur ...

A young girl viewing Ganesh statues for sale on the eve of the Ganesh Chaturthi in Jaipur ...

Team owners Sachin Tendulkar and Ranbir Kapoor during the launch of Indian Super League ...

Team owners Sachin Tendulkar and Ranbir Kapoor during the launch of Indian Super League ...

John Abraham, signs a football during the launch of the Indian Super League, in Mumbai ...

John Abraham, signs a football during the launch of the Indian Super League, in Mumbai ...

Founding chairperson Nita Ambani at the launch of the Indian Super League in Mumbai ...

Founding chairperson Nita Ambani at the launch of the Indian Super League in Mumbai ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523