ahmedabad some of the recent nonpsu initial public offers ipos have seen their stock prices tumble below the offer price in the wake of the recent crash in the stock market the largest information technology ipo that of patni computer systems has been a major loser another it firm four soft pharma company surya pharmceutical and others like vardhman acrylics and bag films have also dropped below their offer pricesas against the offer price of rs 230 per share patnis share price touched a new low of rs 207 on the bse on friday and closed at rs 218 within a month of its listing the stock price has crashed by 10 per cent below the offer price on the day of listing patnis stock price went up to rs 305 for a short period and closed at around rs 233 interestingly patnis ipo was oversubscribed by 22 times and it collected one of the highest subscription amount of rs 9000 crore as against the required size of rs 450 croresurya pharmaceutical raised rs 135 crore in december through a premium issue of rs 35 per share on a face value of rs 10 today suryas stock price is around rs 34 a 24 per cent decline on the offer price of rs 45four soft ltd collected rs 1987 crore in february by offering shares of rs 5 face value at a premium of rs 20 per share apart from the ipo money it received rs 696 crore from uti venture funds and rs 1 crore from the apidc venture capital fund at the ipo price of rs 25 postlisting the share price went below the offer price and is hovering around rs 23 today two other ipos bag films and vardhman acrylics which made public offers in september have been quoting below the ipo price for quite some time now in the case of vardhman the share price today is around rs 8 as against the offer price of rs 10 bag films is traded at rs 6 while its ipo price was 10the share price of tv today is currently at rs 133 as against its peak of rs 310 but it is still higher than its offer price of rs 95