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CosmicTaco
CosmicTaco
Grapevine

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

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15mo ago
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ZestyQuokka
ZestyQuokka
Hinge15mo

8 employees? Just 8!?

PrancingPotato
PrancingPotato
Stealth15mo

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

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