theIPOguru has a nice write-up on the Indian Primary Market, what happened in 2007 and what's in store for 2008. The entire article can be read here. A brief excerpt follows.....
The clear primary market theme in 2007 revolved around Realty and Infra Structure companies. The big-ticket IPOs that hit the market included DLF, HDIL and Power Grid. Of the three, Power Grid was clearly the most attractively priced, as has been the case with many PSU IPOs – remember Maruti Udyog too ?
Some of the relatively lower profile IPO’s that went on to grab the secondary market spotlight included Vishal Retail, MIC Electronics and Everonn. The high profile loser of 2007, primarily on account of gross over-pricing of its IPO was House of Pearl while fundamentally shaky IPOs like Transwarranty and Broadcast Initiatives bit the dust, post-listing.
Herein, one must call the bluff behind the brain-dead advise that some so called ‘experts’ are doling out to investors, suggesting that every IPO be subscribed to and sold on listing. Well, playing ‘Russian roulette’ might give investors lapping up such gibberish an even greater high, albeit with similar consequences.
Furthermore, wealth is created by holding on to the fundamentally sounder stocks and those who sold the likes of Infosys, Opto Circuits, Divi’s Labs and more recently, Lanco Infratech on listing might well be rueing the day they did so.