From Moneycontrol:
Emaar MGF Land, a joint venture between one of the world’s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development Limited of India, has refixed the price band to between Rs 540 and Rs 630 per equity share of Rs 10 each from the earlier price band of between Rs 610 to Rs 690 per equity share for its initial public offering of 102,570,623 equity shares for cash at a price to be determined through a 100% book building issue.
The price band has been refixed considering the prevailing market sentiments and the developments in the financial markets in India and globally.
So…we were being looted earlier, but we are being looted less now? On the other hand, how these exotic valuations are arrived at is a complete mystery to the much-hyped-about and often taken-on-a-merry-go-round retail investor.
Here’s another example.
Further reading:
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