The Indian market has seen a wave of low quality offerings in the recent days propelled by the bullish conditions prevailing in the market.Tarapur Transfromers is a prime example of such low quality which I have described before. The fundamentals of these companies is a total mess to say the least.They just get managed to listed at the low end of the range at just about 1 times subscription no doubt through help from “friendly investors” and promptly take a massive plunge either on the day of the listing itself or after a period of “pump and dump” . The market regulator makes no effort meanwhile to find how these issues are getting funded as a “few dirty fish can foul the whole pond”.With India requiring massive capital infusions and the stock markets being one of the most important conduits , a few rules on the quality of the offerings would be a great help in purging such junk. Maybe a new market for such listings for example a “junk” market should be opened to allow high risk investors to fund such  companies.