D’Mart under the Avenue Supermart banner had a stellar listing on the bourses but does an over 100 per cent premium over its issue price which was already at a huge premium really justify the bizarre valuations. Radhakishan Damani a veteran of the stock markets though deserves kudos at the record listing as most of the premium was to his own name brand and congratulations to him for entering India’s richest elite 20 club but the man was grounded and modest which is the hallmark of a great personality.
Markets are near to all time high but investors though should be cautious while applying for IPOs today most of which are highly priced. Every Tom., Dick and Harry are coming with public issues and investors should do an proper homework before they put in their hard earned money in them. The stock exchanges and the government too should keep a watch while granting permission for IPO’s to save innocent investors from losing their money from ‘Fly-by-night’ operators!
(The views expressed by the author in the article are his/her own.)