Is Coal India, Reliance Power Reloaded?
The BSE Sensex was around 18000 when Reliance Power came out with its IPO in February 2008. The crash that followed the listing brought the markets down to around 8000. It was the bloodiest bloodbath i ever experienced as an investor in the market. I took that opportunity to buy a lot of good companies at ridiculous prices; and raked in good profits when the markets bounced back a year later.
More than 2 years later, we are staring at a similar situation. The markets are hovering close to 20500. The Public Sector Unit, Coal India is set to come with its mega 15,000 crore IPO. The markets are at their all time highs. The pundits have been predicting a cooling down for some time now.
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