SME IPOs: Why it may not be right to paint all with the same brush
Synopsis
India’s markets may be flat, but the IPO frenzy tells a different story. Dozens of small and mid-sized companies are rushing to list, defying poor returns in the secondary market. Retail investors are still biting, SMEs are thriving, and Sebi is stepping in to cool the heat. But are these listings a sign of confidence, or the calm before a correction?
For economist E F Schumacher and his followers, ‘Small Is Beautiful.’ When it comes to the investing world, the smaller ones are looked at with jaundiced eye, thanks to history of many companies going down the tube due to mismanagement and fraud. But the trend in the IPO market tells a different story. There’s an unprecedented rush in the primary market to raise funds and the smaller companies too are making the best use of momentum where the
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