Your move when IPO starts reading as ‘It’s Priced Outrageously'

It’s raining initial public offerings (IPOs), and retail investors just can’t keep calm. So far in 2025, nearly 93 companies have raised about ₹1.54 trillion via public issues. Retail investors are piling in too, with the retail portion subscribed over 24x on average. The frenzy is real.

The euphoria can be explained by reforms that made IPOs faster and easier to access, says Shyam Sekhar, chief ideator and founder, ithought Financial Consulting Llp and a Mint columnist. The flip side, according to him, is the unintended consequences of turning retail investors into speculators and public listings into a form of lottery.

Institutional investors didn’t help either with their anchor allotments, as they deployed large sums that further fueled the IPO momentum. Strong retail and institutional demand gave all the confidence to investment bankers to push for higher valuations, leading to increasingly overpriced IPOs in the market, he wrote.

And that’s exactly why it’s important to understand the elusive nature of IPOs. For retail investors, they are far riskier than they look. Jash Kriplani advises retail investors to be cautious in the IPO market and not get carried away by the hype. He details how investors can study IPO documents to assess business quality, valuations, promoter intent and key risks before deciding to invest.

However, before we fully move on from IPOs, here is a sharp piece by Mint columnist Dhirendra Kumar, founder and chief executive officer of Value Research, which decodes the recent spate of public offers hitting the market as more of a channel for exits for current promoters than a means of fundraising for the company.

He argues that investors are often better off in the secondary markets, where companies have proven models, real profits and more reasonable valuations. And if you’re a Mint Money reader, you’d go one step further and build wealth through mutual funds while also participating in India's growth story.

IPOs have been a hot talking point, but the season now belongs to weddings. Nearly 4.6 million weddings are planned between November and mid-December. Yes, it’s fun to scroll through budget destination weddings, party hacks, and honeymoon savings, but it’s also important to answer: Are you financially compatible?

Just as it’s essential for a couple to be on the same page emotionally and mentally, being in sync financially, or at least having a good understanding of each other’s financial personality, is crucial for maintaining lasting peace in a marriage.

Shefali Anand breaks down five essential financial planning steps every couple should take before they walk down the aisle. The tips don’t just help couples that are yet to “I do” but also couples who have been married but are still struggling to find a common ground from a financial standpoint.

In the investment space, Mint Money brings you an important story on investments that come with lock-ins. Consider Equity Linked Savings Scheme (ELSS) or Public Provident Fund, which come with tax benefits but also require a longer commitment.

Khyati Dharamsi explains how lock-ins can block access to money in products like closed-end mutual funds and Reserve Bank of India (RBI) bonds, even after the holder’s death. The story details lock-in periods for mutual funds (ELSS, retirement and children’s funds), RBI bonds, bank FDs and small-savings schemes and why nominees should go through the product details for a complete understanding.

In the tax space, there’s Shipra Singh's story that will push you to rethink investments in under-construction properties from a tax-saving angle. Did you know? For a home loan on an under-construction property, you can claim interest deduction under Section 24(b) only after construction is complete and possession is taken. Pre-construction interest is split into five equal annual instalments. But if the project drags beyond five years, your annual deduction collapses to just ₹30,000 for a self-occupied house—wiping out the tax edge you thought you had.

In terms of insurance, Mint columnist Kapil Mehta, co-founder, SecureNow Insurance Broker, tells you why the scrutiny of Ayurvedic claims is far tougher by your health insurance provider. Your claim has to pass the smell test on four fronts: Was hospitalization truly needed? Was it treatment and not a rest-and-wellness retreat? Was the length of stay medically justified? And is the Ayurvedic hospital credible?

And if you are a freelancer working for a global client, then this becomes an important story to read to save on conversion costs. Shipra Singh tells you how you can save up to 7% in conversion and transfer costs when working with global clients. She details out options such as better bank negotiations, newer online cross-border payments platforms and Exchange Earners Foreign Currency (EEFC) Accounts that allow freelancers to hold foreign earnings in the same currency and convert to INR when rates are favourable.

That’s all we have from the Mint Money team. Have a great weekend!

Deepti Bhaskaran is editor, Mint Money, with close to two decades of experience as a personal finance journalist. Her work reflects a strong focus on financial literacy, consumer protection and practical money management.