Small Bike Dealer's IPO Receives Staggering 400x Oversubscription
- Rs 12cr IPO for Resourceful Automobile attracts bids worth Rs 4,800 crore - Delhi-based dealership has just 2 showrooms and 8 employees - Retail investors most active, with 500x subscription in their portion - Merchant banker 'beyond expectation', unable to justify high demand - Critics point out 'insane' subscription given company's negative cash flow Source: [Times of India]()
https://x.com/deepakshenoy/status/1828299285168878021?s=46&t=PnXf_n6KFjLIElY1KRS_BQ
Relevant POV for this.
The craze has gone shit. No doubt the the stock market is filled with overpriced or overvalued stocks.
BiryaniEnthu
Stealth
24 days ago
8 employees? Just 8!?
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