Initial public offerings: Not all on the list is worth a tick

In a matter of two weeks, two large IPOs met with contrasting fates at the stock exchanges. While Coffee Day Enterprises witnessed a cold listing at the bourses and is trading 18 per cent below its issue price, the public offering of InterGlobe Aviation, that got listed on Wednesday, brought cheer to investors as it rose 13.6 per cent on the first day of its listing to close at Rs 868 against the issue price of Rs 765 per share. In the first two days InterGlobe stocks have risen by over 20 per cent. These are still early days and it will take a few more for the price to settle down, but the disparity in the performance of the IPOs calls for greater scrutiny by retail investors before they...