Well, there were reports that Monte Carlo IPO was to open on 13.10.14 and market was flooded with rumors of price band at Rs. 275-300 which has been rejected by Anchor Investors and now the issue is in dolldrum. Merchant bankers who boosted for their earlier IPOs lime Wonderla and Snowman are now running from pillar to post. They forget one important thing that OWM group the main promoter of this company is not an investor friendly group and has inconsistency in their groups performance with cross holding and cross deals. According to market circle, Anchor Investors have done the right thing and if at all this issue comes with a greedy pricing, it should be avoided. After discounted market price of the third IPO of Shemaroo, this event has once again created doubt over primary market''s action that was to start soon after Diwali festival. JUst wait and watch
Dilip Davda
SEBI registered Research Analyst
Mumbai
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