Wednesday, March 07, 2007

Cricket Stock Exchange launched ahead of World Cup

INDIA: Students from IIT Roorkee (a leading engineering and technological institute of India) and IIM Ahmedabad (ranked as the best Business School in Asia Pacific by The Economist) have attempted to fuse corporate and cricket worlds by launching www.cricstock.com, Cricket Stock Exchange. On this virtual stock exchange, shares of international cricketers can be bought and traded by cricket fans, and the stock prices of cricketers will reflect their recent performance and what fans feel about them. “The idea is to capture the mood and sentiments of cricket fans and translate them into numbers which will be reflected by stock-prices,” informed Rahul Roushan, final year student of postgraduate programme of IIMA and one of the developers of the website.

Currently the website has issued IPO (Initial Public Offering) of all the international cricketers of Test-playing countries.

A person gets one million of virtual cash as soon as he registers with the website and he can use that money to buy shares of any number of these cricketers. He has to bid within a specified price range for buying the shares of different cricketers.

The site has already attracted more than 3000 registered users since it was launched on 25th February and the number is growing fast. As per the latest IPO trends, Sachin Tendulkar has been oversubscribed 5 times, followed closely by Saurav Ganguly. Ricky Ponting and MS Dhoni are among the players who have been oversubscribed almost 3 times. Mohammad Yousuf of Pakistan is also oversubscribed. Overall, almost 25 players are oversubscribed among the 150 players of World Cup 2007 among all Test playing countries. Allotment of shares will happen on 11th March. agencies

Source : http://www.dailytimes.com.pk

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