PP Waterballs Strategy Failed
Resourceful Automobile’s stock listed flat at its IPO price of Rs 117 on August 29, even though it was massively oversubscribed by 400 times...
https://loomanews.com/resourceful-automobile-ipo-listed-flat-at-rs-117-after-400x-subscription/
SEBI knows that majority of investors are trying to dump shares on the day of listing. So they analyse the company portfolio and decide the share price, GMP doesn’t means it will always be listed at premium.
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