Financial Daily from THE HINDU group of publications
Thursday, Apr 15, 2004
Financial Daily from THE HINDU group of publications Thursday, Apr 15, 2004 |
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Opinion
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Letters Revamp issue process
In the recent ONGC allotment episode, the system collapse should pave way for revamping of the issue handling process. Apart from the avoidable confusion due to the bunching of issues, certain other factors ensured that the whole process left much to be desired. Some of these were the large-scale press advertisement running into pages; overloading one registrar for handling the issue process; price of the shares being very close to the market price; and common application format for all the investors. The flow of funds through the banking system put unnecessary strain on the financial system. It is a clear case of quality being the victim of quantity. It is time that the newspaper advertisements of issues convey in a nutshell information on factors and risks, duly approved by SEBI. Shorter versions should replace the pages of advertisement and a simple application form for small investors should be devised.
R. S. Raghavan Bangalore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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