It is disappointing news for those companies which are planning for IPOs. After index broke out of downturn, lot of companies are lining up to suck the money from market by IPO route.
But it is not going to be straight forward as it appears to be. Streched valuations are not liked by investors and retail investors specifically.
Merchant bankers needs to set the valuation theory straight and leave some money on table for small investors. SEBI also needs to keep its vigil on those who try to exploit this route for interest of few.
Wish you profitable day.
Value Pick Team
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