Idea makes solid BSE debut as 3 others disappoint

Mudra Lifestyle, manufacturer and exporter of fashion fabrics, closed at Rs 63.80, a 29 per cent discount over its issue price of Rs 90. The scrip, which had listed at Rs 94.80, touched an intra-day low of Rs 62.05. The company offered 95.80 lakh equity shares in its IPO which was oversubscribed four times.

Euro Ceramics, engaged in the business of ceramics and aluminium extruded sections, closed at Rs 118.65, down 28 per cent compared to its issue price at the BSE. The scrip touched an intra-day high of Rs 159, after opening at Rs 151 on the BSE, 8.48 per cent below its issue price of Rs 165. Vijayeswari Textiles, engaged in the production of cotton yarn and textile, settled at Rs 68.95, a 31 per cent discount over its issue price of Rs 100. The scrip was listed at Rs 90.05 in the morning, which was also its high after which it lost steadily.

Most of the IPO listings in the recent past have been at big discounts, leading to losses for investors. 8220;Some of the IPOs are overpriced. Merchant bankers and promoters are killing a golden goose by overpricing the IPOs. They should leave something for investors,8221; said

Rajesh Shah, an investor who lost money in some of the recent IPOs.