What I wanted to say in 2nd para is:
- ICICI bank came out with IPOs of 2 of its subsidiaries 3i infotech and First source solutions, in 2005. IPOs/ listing of subsidiaries etc is supposed to be positive for the shareholders as it is supposed to ‘unlock value’ by giving an exit route to those who want to sell their holding in the subsidiaries and also determine a fair value / market price for the shares of the subsidiaries.
Now, as far as I can remember, I did not get any shares of either 3i infotech or First source solutions either free or on a preferential basis. So value unlocking, if any, was not there and I did not gain anything from the IPOs of those Coys.
I also think that the situation will be similar when the IPOs of Insurance cos etc will come to the market. So I said ‘better forget making any money on the side.’, meaning that listing of subsidiaries will not allow you to unlock any value.