Financial Daily from THE HINDU group of publications
Tuesday, Jul 06, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 06, 2004 |
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Opinion
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Letters Educating investors
This is with reference to "Ministry, SEBI vying to educate investors" (Business Line, July 5). No doubt, the investors are to be educated about how to their money should be deployed and on how to overcome the problems arising out of the registrars' faults or foul-play. In the ONGC IPO, some investors lost heavily for no fault of theirs. The issue, which was priced at Rs 750, appreciated to Rs 1,000 in the secondary market. The investors who got the allotment in time gained Rs 250 per share. Some of the investors who have got their allotments now, after repeated complaints, cannot sell the shares as they trade far below the issue price. SEBI should come to the rescue of the investors who have incurred losses up to Rs 350 per share through the belated allotments. SEBI should protect investors' interests along with educating them. The happenings in a few of the recent IPOs have seen a setback in investor sentiment and trust. SEBI should come forward to find out what went wrong during the allotments in ONGC issue. C. P. Velayudhan Nair Kochi Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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