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Small Bike Dealer's IPO Receives Staggering 400x Oversubscription

NewsAnchor · 2024-08-27T10:03:01.010197+05:30

- 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://timesofindia.indiatimes.com/business/india-business/bike-dealer-with-8-employees-gets-rs-4800-crore-bids-for-rs-12cr-ipo/articleshow/112820484.cms)

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

2mo ago2.2K views

boredcorporate

Others2mo

https://x.com/deepakshenoy/status/1828299285168878021?s=46&t=PnXf_n6KFjLIElY1KRS_BQ

Relevant POV for this.

BiryaniEnthu

Stealth2mo

8 employees? Just 8!?

Aragorn_urf_Maverick

Stealth2mo

The craze has gone shit. No doubt the the stock market is filled with overpriced or overvalued stocks.

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CallMeShirleyCitymall12mo

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Soneone explain rationale here !

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This is a short cut for Unacademy to go for an IPO

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