This Indian billionaire likens Indian IPO market to 'monkey business'. See post
Indian IPO market is going through high and lows - while Nykaa jumped 80 per cent after its November 10 debut, the much-anticipated Paytm IPO disappointed investors with a 27 per cent dip on listing
Indian stock market is seeing the unprecedented influx of IPOs this year, with unicorns like Zomato, Paytm, Nykaa and many other start-ups going public, albeit to mixed results. While Nykaa jumped 80 per cent after its November 10 debut, the much-anticipated Paytm IPO disappointed investors with a 27 per cent dip on listing.
A day before, Goenka had warned investors to be wary of the IPOs that have flooded the market.
“For those who subscribed to the IPOs - let it be a lesson. For those who are looking at future IPOs - be very careful. Go back to the basics- profits, free cash flow, PE multiples," Goenka wrote.
“I can visualise another dot com like collapse. And the retail shareholders are going to get burnt," he added.
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