He said five companies which include JSW Energy, RNS Infrastructure, Ybrant Technologies, Elysium Pharma and
Kamayani Patients Care, with the proposed issue of more than Rs 4,000 crore (Rs 40 billion), withdrew their IPOs prior to Sebi approval.
In 2008, 20 companies did not tap the primary market despite approval from SEBI due to uncertainty in the markets.
Shares of eight out of ten companies which got listed on stock markets during second quarter of the current fiscal (July-September) following the IPO are trading below the issue price.
Image: Chairman of Reliance Anil Dhirubhai Ambani Group Anil Ambani addresses the media at a press conference to announce the success of the Reliance Power's initial public offering which closed for subscription in Mumbai on January 19 2008. | Photograph: Pal Pillai/AFP/Getty Images
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