Open IPOs are the worst hit

Needless to comment on the mayhem. Everyone has been talking about it, so lets talk something else. Not sure how may of you realized it, but the worst hit during these difficult times are the new issues that were (now 'are') open.

Both Tubeknit Fashions (which in my opinion was very reasonable bet) and Abhishek Mills have been left struggling to attract investors. Now, the lead managers of the two issues have revised the price-band and extended the issue dates aiming for at least minimum subscription.

Tubeknit Fashions IPO, which came with a price-band of Rs. 100 to Rs. 120 and was supposed to close on Feb 27th, is now being offered with a revised price-band of Rs. 90 to Rs. 108 and the issue period has been extended to March 2nd.

Abhishek Mills IPO, which came with a price-band of Rs. 95 to Rs. 110 and was supposed to close on Feb 26th, is now being offered with a revised price-band of Rs. 90 to Rs. 100 and the issue period has been extended to March 1st.

Indian Bank lists tomorrow. I have no idea, how the investors will play this one.