I am unable to understand the logic behind IPO of Bajaj Housing Finance. All the existing shareholders are clear-cut losers in my view. Earlier they were getting the value of a big balance sheet. Now the balance sheet has shrunk and book value will dip as subsidiary becomes a separate entity. Also share price has not comedown. Why not? Reasons are not clear to me. Also for shareholders quota in the IPO, what is the cut off date?
Senior forum members can elaborate for benefit of others.
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