Inability of stocks to return to their highest levels is one of the reasons why retail investors have been reluctant to return to the market.
Every Rs 1-cr FII inflow has coincided with a Rs 11-cr investor wealth erosion.
In first year, ONGC spending likely at Rs 405 cr, followed by Reliance Industries' at Rs 377 crore.
At least 43 of the 175 issuers would have been hit if proposed mechanism had been in place before the R-Power IPO.
Salaries are performance-linked and FY12 was good on both counts; now, persistent inflation and patchy rains show on rural market.
In dollar terms, the Nifty has gained 26.7 per cent in this year, while the Sensex has advanced 25 per cent during the same period.
While listing can be good, success depends on sentiment and performance.