This market correction has been good because it has brought down the issue price of a couple of IPOs down.
Companies using the frenzy in secondary markets have tried to over price the issues and tried to make a killing out of public money. Pricing based on market sentiments rather than on intrinsic value and growth prospects can kill the stock market system.
SEBI should come up with some stern measures to determine the price of IPOs. Investors should also be careful while investing in IPOs and never get carried away by grey market premiums.
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