Two out of three IPOs that were listed on Friday have caused losses for investors while the third provided marginal profits. As a result the issues of IPOs in the future will face difficulty if companies and bankers look for high valuation.

A company, building roads and bridges named Ramky Infrastructure and a clean-energy firm named Orient Green Power incurred losses in the tune of fourteen percent from their sale prices.

A gain of two decimal two percent was seen by a firm named Electrosteel Steels, selling their shares at eleven rupees and reaching eleven decimal two five rupees. According to Devesh Kumar, group CEO and joint managing director of Fortune Financial Services, when the nature of the market is bullish IPOs priced aggressively might not get one back good premium and can bring in losses. The market for the last two days has been rectifying it and thus the new listings of Friday got affected.

In a relevant development a telecom and power infrastructure provider named BS Transcomm has brought down it price band for its IPO and kept it in the range of two hundred and forty eight rupees to two hundred and fifty seven rupees.

Earlier the price was in the range of Two hundred and fifty seven to two hundred and sixty six rupees. The firm has extended the IPO issue for another three working days.

The firm might have taken this move because the investor response was not that warm and the company till Friday evening got dust sixty percent subscription. On 13 October the offer will be closing. With the change of the upper end of the price band the firm expects to raise a sum of around two hundred crores of rupees.