Date:14/07/2006 URL: http://www.thehindubusinessline.com/2006/07/14/stories/2006071401811102.htm

Back Buying time

The ingenuity of Indians should never be underestimated. Having announced a major IPO issue, one leading corporate found the timing wrong as the stock market was not supportive of new issues. While some smaller companies have withdrawn their IPOs, this corporate did not want to convey the impression that it too was backing off till a more opportune time. What it did instead is to sit on some of the queries raised by the market regulator which, in effect, means buying time. So, technically, the IPO is very much on; only the company is unable to give a time-frame by which the issue would hit the market.

Our Bureau