Real Estate major Emaar MGF Land Limited announced a second price cut for its initial public offer on Wednesday. The company also extended the date of closing of the issue to 11th February. The price band was reduced by Rs. 10 to Rs. 530. The earlier price band for Emaar MGF IPO was between Rs. 540 to Rs. 630.

As per the NSE data, the issue received bids for only 60% of the proposed placement at the lower end of price band. The company had reduced the price band few days earlier as there was low interest from investors.

As per the latest data, Emaar IPO received 75% bids till 7 pm today.

Retails investors were very bullish on most IPOs before the markets crashed in January this year. Reliance Power IPO in January received record number of bids. The stock will list on the stock exchanges this Monday.

Another IPO from Wockhardt Hospitals Limited, had to extend its issue till 7 February as the IPO received only 10 percent bids as per NSE data.

After the recent stock market crash, most retail investors have lost the courage to invest in IPO. Most of the market experts have suggested their clients and retail investors to stay away from stock markets till the time situation becomes clear and market comes in a trading zone. There are some good stocks for long term investment which are available at attractive price, but the market looks risky for short term traders.