Quality May Deteriorate As IPO Frenzy Builds Up! Secondary Issuances Rising on Rich Mkt Valuations

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IPO Mkt Watch: Retail Participation Steady While HNIs Turn Exuberant; But Listing Quality Maintained

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Thematic (Sector/Industry)

<p>We are currently witnessing a euphoria in many of the small-sized IPOs in India led by speculators. Under the official bidding category of High Networth Individuals (HNIs), the euphoria is pushing over-subscription levels to 200x and beyond. In fact the previous over-subscription record of 2007/08 bull run was broken this year (in CDSL IPO and then by several more IPOs after CDSL). The entire speculative game for these individuals is to target a small size IPO with ideal issue size being around…</p>

We are currently witnessing a euphoria in many of the small-sized IPOs in India led by speculators. Under the official bidding category of High Networth Individuals (HNIs), the euphoria is pushing over-subscription levels to 200x and beyond. In fact the previous over-subscription record of 2007/08 bull run was broken this year (in CDSL IPO and then by several more IPOs after CDSL). The entire speculative game for these individuals is to target a small size IPO with ideal issue size being around…

Speculation Underway in Parts of IPO Market: Overpriced IPOs May Not See Further Gains Post Listing