SVEC Constructions IPO to be withdrawn (The Hindu Business Line 13th Feb 2008)The list of the casualties seems to be growing on the IPO front. The lead mangers of Hyderabad based SVEC Constructions Ltd have decided to withdraw the IPO, which was to close on Wednesday. As on 5 p.m. on Tuesday, the issue was subscribed only by 25 per cent. The company had reduced the price band and extended the deadline. Last week, two high-profile IPOs – Emaar MGF and Wockhardt – were called off following poor investor response. Analysts said that these IPOs failed due to aggressive pricing and the current market sentiments. Amidst the chaos, some companies are still willing to take a chance to go ahead with its issues. GSS America Infotech Ltd went on with its IPO as planned. The issue opened on Monday and is expected to close on February 15. The company is offering a total of 34.9-lakh equity shares to the public and the price band is fixed between Rs 400 and Rs 440. As per the latest data available o...
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