|
Sporadic
spurts apart, media firms' IPOs made through the book building
route between 1999-00 and 2001-2002 have not exactly set
the stock exchange ablaze.
Of the seven media IPOs that made their appearance in the
period, only one issue - that of Balaji Telefilms is being
currently traded above its issue price. Balaji Telefilms
tops the list of three gainers among the total of 19 IPOs
that came out during the period, registering an appreciation
of 269.23 per cent since listing date 22 November, 2000.
The stock is being currently traded at Rs 480 compared with
the issue price of Rs 130.
For the others, its been an uphill task all the way, with
the television and media industries in a churn for over
the last one year. Cinevista Communications is currently
traded at a 84.08 per cent discount, while Pritish Nandy
Communications is being traded at a 77.68 per cent discount.
Together, the aggregate loss in terms of investor value
has been nearly 30 per cent of total resource mobilisation,
say analysts.
How they fare
|
Company
|
Issue
price (Rs)
|
Current
close(Rs)
|
%
change
|
| Cinevista
Communications |
300
|
47.75
|
-84.08
|
| Pritish
Nandy Communications |
155
|
34.60
|
-77.68
|
|
Mid
day Multimedia
|
70
|
26.65
|
-61.93
|
|
Tips
Industries
|
325
|
141.25
|
-56.54
|
|
Mukta
Arts
|
165
|
85.50
|
-48.18
|
|
Creative
Eye
|
50
|
28.25
|
-43.50
|
|
Balaji
Telefilms
|
130
|
480.00
|
269.23
|
Source:
Business Standard
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