Initial public offerings have become a drawn out
Initial public offerings have become a drawn out process as regulators pick through applications in response to criticisms that firms are overvaluing their land. The tactic has also been pursued by the realestate arm of US investment bank Morgan [...] And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. And Dev land Development, listed on Londonâ??s Alternative Investment Market in January. â??They need to juice up their returns,â? Krishna said of the willingness of investors to dabble in relatively high risk Indian realestate.
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