Money Tree

The year 2007 is not good for new issues. Most of the IPOs of 2007 are trading much below their issue prices. We have compiled some data on the recent IPOs issued in the first quarter of 2007 hereunder to give you an overview of the performance of these IPOs. As per the closing prices of 16th March 2007 only 9 out of the 28 IPOs listed below are in profits and among these only Idea, Mindtree, Redington, Global Broadcast, Pyramid saimira and Tanla Solutions have given good profits. If you look at the subscription figures given hereunder, these are the IPOs which were highly oversubscribed and the worst performing IPOs are the ones which received just sufficient applications to fully subscribe the issue and all the applicants got a firm allotment. Vijeswari, Indus Fila, Cairn, etc. fall in this category. However, we do not mean that figures of oversubscription are any indication to the listing price, but it tells you the demand and supply situation and the stocks which have high demand are bound to move up as those who did not get any allotment would try to grab their picks on listing.

The reasons of this underporformance could be many. Some of the recent issues were priced at a very high premium on account of euphoria in the stock markets. They are listed at a time when the overall market sentiment is bearish and our markets are in a correction phase and when the markets are falling, people get a number of opportunities in the secondary market and become indifferent to the primary markets.

In view of these figures, retail investors need to be extra cautious with respect to forthcoming IPOs as investing in IPOs wihtout priliminary research might lead to heavy losses.

Raj TV

Issue Price : Rs.257/-
Subscribed : 2.36 Times
Issue Opened On : March 16, 2007
Close price on the Opening Day : Rs.226/-
Closing price on 16th March 07 :Rs.226/-

Page Industries

Issue Price : Rs.360/-
Subscribed : 1.40 Times
Issue Opened On : March 16, 2007
Close price on the Opening Day : Rs.271.80/-
Closing price on 16th March 07 :Rs.271.80/-

Idea Cellular Ltd.

Issue Price : Rs.75/-
Subscribed : 49.56 Times
Issue Opened On : March 09, 2007
Close price on the Opening Day : Rs.85.70/-
Closing price on 16th March 07 :Rs.92.90/-

Euro Ceramics Ltd.

Issue Price : Rs.165/-
Subscribed : 2.86 Times
Issue Opened On : March 09, 2007
Close price on the Opening Day : Rs.119.15/-
Closing price on 16th March 07 :Rs.122.10/-

Mudra Lifestyle

Issue Price : Rs.90/-
Issue Opened On : March 09, 2007
Subscribed : 4.07 Times
Close price on the Opening Day :63.80
Closing price on 16th March 07 :Rs.65.20/-

Vijyeswari Textiles

Issue Price : Rs.100/-
Subscribed : 1.0026 Times
Issue Opened On : March 09, 2007
Close price on the Opening Day :68.95
Closing price on 16th March 07 :Rs.74.05/-

Indus Fila Ltd.

Issue Price Rs.170/-
Issue Opened On : March 08, 2007
Listing price : Rs. 160/-
Subscribed : 1.34 Times
Closing price on 16th March 07 :Rs.138.95/-

Evinix Accessories Ltd.

Issue Price : Rs. 120/-
Issue Opened On : March 08, 2007
Listing price : Rs.110/-
Subscribed : 3.40 Times
Closing price on 16th March 07 :Rs.97.60/-

Mindtree Consulting Ltd.

Issue Price : Rs.425/-
Issue Opened On : March 07, 2007
Subscribed : 102.75 Times
Listing price : 599/-
Closing price on 16th March 07 : Rs.897.30/-

Broadcast Initiatives LTD.

Issue Price : Rs.120/-
Issue Opened On : March 07, 2007
Subscribed : 2.36 Times
Listing price : 117/-
Closing price on 16th March 07 :Rs.69.10/-

Oriental Trimex Ltd.

Issue Price : Rs.48/-
Issue Opened On : March 06, 2007
Subscribed : 0.95 Times
Listing price : 42/-
Closing price on 16th March 07 :Rs.25/-

C & c Constructions Limited

Issue Price : Rs.291/-
Issue Opened On : February 26, 2007
Close price on the Opening Day :Rs.239.9/-
Subscribed : 19.73 Times
Closing price on 16th March 07 : Rs.195.95/-

SMS Pharmaceuticals Limited

Issue Price : Rs.380/-
Issue Opened On : February 28, 2007
Close price on the Opening Day : Rs.357.85/-
Subscribed : 2.55 Times
Closing price on 16th March 07 : Rs.282.20/-

Power Finance Corporation Limited

Issue Price : Rs.85/-
Issue Opened On : February 23, 2007
Close price on the Opening Day :Rs.111.55/-
Subscribed : 77.16 Times
Closing price on 16th March 07 : Rs.102.90/-

Transwarranty Finance Limited

Issue Price : Rs.52/-
Issue Opened On : February 26, 2007
Close price on the Opening Day :Rs.48.25/-
Subscribed : 1.5194 Times
Closing price on 16th March 07 : Rs.34.35/-

Firstsource Solutions Limited

Issue Price : Rs.64/-
Issue Opened On : February 22, 2007
Close price on the Opening Day :Rs.79.6/-
Subscribed : 49.32 Times
Closing price on 16th March 07 : Rs.73/-

Redington (India) Limited

Issue Price : Rs.113/-
Issue Opened On : February 15, 2007
Close price on the Opening Day :Rs.163.25/-
Subscribed : 43.46 Times
Closing price on 16th March 07 : Rs.140.65/-

Cinemax India Limited

Issue Price : Rs.155/-
Issue Opened On : February 14, 2007
Close price on the Opening Day :Rs.152.35/-
Subscribed : 41.86 Times
Closing price on 16th March 07 : Rs.116.30/-

Technocraft Industries (India) Limited

Issue Price : Rs.105/-
Issue Opened On : February 12, 2007
Close price on the Opening Day :Rs.100.90/-
Subscribed : 10.52 Times
Closing price on 16th March 07 : Rs.97.50/-

House of Pearl Fashions Limited

Issue Price : Rs.550/-
Issue Opened On : February 15, 2007
Close price on the Opening Day :Rs.469.4/-
Subscribed : 3.66670 Times
Closing price on 16th March 07 :Rs.394.55/-

Akruti Nirman Limited

Issue Price : Rs.540/-
Issue Opened On : February 07, 2007
Close price on the Opening Day :Rs.564/-
Subscribed : 80.8773 Times
Closing price on 16th March 07 : Rs.398.25/-

Global Broadcast News Limited

Issue Price : Rs.250/-
Issue Opened On : February 08, 2007
Close price on the Opening Day :Rs.510.1/-
Subscribed : 49.7459 Times
Closing price on 16th March 07 : Rs. Rs.550.15/-

Pochiraju Industries Limited

Issue Price : Rs.30/-
Issue Opened On : February 09, 2007
Close price on the Opening Day :Rs.49.15/-
Subscribed : 4.52 Times
Closing price on 16th March 07 : Rs.25/-

Autoline Industries Limited

Issue Price : Rs.225/-
Issue Opened On : January 31, 2007
Close price on the Opening Day :Rs.257.95/-
Subscribed : 19.34 Times
Closing price on 16th March 07 : Rs.234.85/-

Shree Ashtavinayak Cine Vision Limited

Issue Price : Rs.160/-
Issue Opened On : January 10, 2007
Close price on the Opening Day :Rs.226.5/-
Subscribed : 5.6541 Times
Closing price on 16th March 07 : Rs.163.85/-

Pyramid Saimira Theatre Limited

Issue Price : Rs.100/-
Issue Opened On : January 05, 2007
Close price on the Opening Day :Rs.158.2/-
Subscribed : 17.33 Times
Closing price on 16th March 07 : Rs.267.60/-

Cairn India Limited

Issue Price : Rs.160/-
Issue Opened On : January 09, 2007
Close price on the Opening Day :Rs.137.5/-
Subscribed : 1.0298 Times
Closing price on 16th March 07 : Rs.124.65/-

Tanla Solutions limited

Issue Price : Rs.265/-
Issue Opened On : January 05, 2007
Close price on the Opening Day :Rs.379.8/-
Subscribed : 34.71 Times
Closing price on 16th March 07 : Rs.305.25/-