Value investors should avoid investing in the IPO of Spice Communications. I am a subscriber of Spice in Karantaka and it is the worst Telecom company in the History of India.
They were the first one to introduce Telecom services in Karnataka. Today Karnataka is the largest Telecom Circle and Spice is Last in the race. What have they done in the past 10 years ? They are promising they will do a lot in the next 10-12 months is a straight forward lie.
Spice is backed by non-investor friendly promoters, Modis, who are like fly by night operators.
National Stock exchange refused to list the shares of Spice because they have acumulated losses more than their net worth.
Blindly Avoid the IPO of Spice. Instead look at RCom or Bharti Airtel.