Wockhardt Hospitals IPO devolves, first casualty after market melt-down

The Initial Public Offering (IPO) of Wockhardt Hospitals Limited which opened for subscription on January 31, 2008 has received subscription of 0.20 times till 5:30 PM on 07 Feb 2008.

With such low subscription even after extending the last date for closure by 2 days, the issue has not received the mandatory subscription limit.

Wockhardt Hospitals has been the first casualty after the market melt-down in the recent weeks. Even lesser known IPOs have received subscription and scraped through. This should be a lesson for companies who are trying to cash-in on the boom in stock markets with predatory pricing.

The other listed company like Apollo Hospitals in the healthcare domain is available at much better valuations compred to Wockhardt Hospitals.

Source : Equity Bulls

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