Friday, February 18, 2011

Recalling my first application for an IPO

By mid-1980's, even I was influenced by a desire to participate in the stock market. I decided to apply for an IPO. IPO's were quite common at the time.

So, how did I decide? We had a small bank in our office building. I was surprised to find that this branch was accepting IPO applications for one company.

The company was making some acids. I had no clue about it. Even more important - no interest in it! I applied simply because it was easy.

Not surprisingly, the stock price languished for many years. About a decade later, I found that the Rs. 10 share was selling around Rs. 60. This was the one time I made a little effort and sold the shares. I was lucky. The price had gone high because the promoters were fighting for control!

Anyway, I regard this memory as fascinating as it is indicative of many decisions I have taken in life. Even important ones. Choosing the path of minimal effort or even sillier reasons.

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