Friday, January 18, 2008

Reliance Power IPO- ICICIDirect strategy to fool investors

Reliance Power IPO rush is now a talk of the town and would remain so till the time this records gets broken. While such events demonstrate how Indian investors respond to group/houses which have given good returns to investors at the same time these moments are used by other crappy and notorious companies to make quick buck.

The event in question is ICICIdirect ads in regular news paper and tall promises to open their account with 1 day so that all can apply to reliance IPO. Well the truth is out and ICICI which is not only infamous for Their recovery mechanism is again found to have used foolish strategies just to increase their account base.

An investor who gave their applications to open Demat account on 14th January have not yet received any response from ICICI about its status. When followed aggressively it was found that it is strategy to get more investors and create accounts at later stage as these events are best opportunities to create leads. At same time no efffort is made from ICICI Direct side either to open account or give its status.

The result-- some investors have lost chance to invest in IPO.

We know nothing can be done against ICICI for the same but the time and effort spent by investors in a hope has gone drain.                                                              

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