Don’t get influenced and unduly excited by placements of part of their stakes by Promoters of DLF (at Rs 230) and Suzlon (at Rs 77) especially, and of TCS (at Rs 627)…..They have sold shares now as they desperately need funds and can’t raise it any other way……The Credit Crunch and Contraction has simply overwhelmed the corporate sector
In fact you can even expect our government to sell some of it’s jewels…expect IPOs of PSUs in Q2 and Q3 this year…Even the Government desperately needs funds to fund the dangerously high fiscal deficit as it has reached saturation Borrowing Levels.
Otherwise,just ponder…..why did they not sell stakes in 2007 and 2008 when their Shares Prices were 5 to 10 times they are now !
So if a Foreign Bank operating in India was able to comfortably manage these placements,remember these were at stressed and possibly distressed prices…so there were many takers……not really prices at which the Promoters should sell !
But Desperate Times call for Desperate Measures