Rakesh Jhunjhunwala backed A2Z Maintenance & Engineering Services IPO failed to even get a fifth of subscription at the offer price of Rs 400 – Rs 410. We had recommended to AVOID the IPO and even Foreign Institutional Investors have given a thumbs down to the Over Priced A2Z IPO.
What we are picking up from our sources on the Street is the over confidence and greed of Mr.Rakesh Jhunjhunwala is punished by institutional investors who are religiously followed by Indian Retailers.
If you read our recommendation, we have advised you not to follow Rakesh Jhunjhunwala blindly as he has not made any money for you, rather follow Sr. Fund Managers from Templeton Funds, HDFC or Merrill who believe in making money for everybody.
We sincerely hope Investors will punish all the over priced IPOs who want unjustified premium with speculative names backing the issue. The writing on the wall is now clear for promoters – Leave something on the Table for IPO investors if you want your company’s stock to trade at modest valuation. And if your Fu**ing i-bankers don’t know what modest valuation is and what will make the investors happy, write to us at feedback @ dalalstreet dot biz and we will help you.