These days when markets seem to be going nowhere the number of IPO’s tapping the capital markets is suddenly increasing. This is nothing to do with the condition of the market but one simple fact that all these documents were filed with results which are now almost six months old. The law of the land is such that it allows you to open the IPO as long as six months have not expired from the period for which audited accounts are enclosed as part of the document. Taking advantage of this fact these companies have lined up issues and they are bunched in the last ten days of September. The quality and fundamentals of many of these issues leave a lot to be desired, yet no one is bothered.

Some of the issues tapping the markets are as follows: –

There are only ten trading days left in the month of September and already 6 IPO’s opening are known. One should not get surprised if one or two more open before the month is over. How many of these issues do well during subscription, then do well on listing day and finally continue to do well post listing would be a million dollar question.

Let us pray and hope that sanity prevails when these issues are open and retail investors look at merit and fundamentals when applying in issues.