<p>Within a span of less than three months, two companies have withdrawn their initial public offerings (IPOs) worth over Rs 200 crore due to poor response from investors. <br /><br /></p>.<p>Garments manufacturer Scotts Garments withdrew its IPO last week, after extending the duration of the issue from April 29 to May 3 and lowering the price band from Rs 130-132 to Rs 118-120. The IPO received bids for 27 per cent of the 1.05 crore shares offered, according to NSE data. Retail investors bid for 6 per cent of the 35.19 lakh shares reserved for them. <br /><br />This is the second IPO to be withdrawn this year after a failed attempt to raise funds by Sai Silks (Kalamandir) Ltd in February.<br /><br />Sai Silks’ Rs 89 crore issue was withdrawn on February 18, 2013.</p>
<p>Within a span of less than three months, two companies have withdrawn their initial public offerings (IPOs) worth over Rs 200 crore due to poor response from investors. <br /><br /></p>.<p>Garments manufacturer Scotts Garments withdrew its IPO last week, after extending the duration of the issue from April 29 to May 3 and lowering the price band from Rs 130-132 to Rs 118-120. The IPO received bids for 27 per cent of the 1.05 crore shares offered, according to NSE data. Retail investors bid for 6 per cent of the 35.19 lakh shares reserved for them. <br /><br />This is the second IPO to be withdrawn this year after a failed attempt to raise funds by Sai Silks (Kalamandir) Ltd in February.<br /><br />Sai Silks’ Rs 89 crore issue was withdrawn on February 18, 2013.</p>