Wockhardt Hospitals have withdrawn their IPO due to poor response form the investors. The authority of the hospital said that they would refund the IPO money in 15 days.Sources said that the IPO has been withdrawn in the larger interest of investors and will be taken up again at an appropriate time.

A statement issued by Wockhardt said: “The decision was made in light of continued global and domestic market volatility and poor market sentiments and the resultant effect on the subscription levels in the IPO.” 

The $164-milion IPO was called off today, despite a series of measures were taken to make the IPO attractive. It had initially priced the IPO in the band of Rs 280-Rs 310, and later cut the lower end of the price band by 20 per cent. Besides, the issue period was extended by two days.

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