Signature of Peak Bull Market,
It was hard to believe at first, But this guy with single Yamaha Showroom in Delhi went for an SME IPO, looking to raise 11cr … Next what The IPO got the bumper oversubscription- 100 times.
Indian Markets Hit Fever Pitch as Resourceful Automobile’s IPO is Oversubscribed by 200x Despite Negative Cash Flow Automobile sought ₹12 Cr, received ₹2400 Cr. Operates 2 Yamaha two-wheeler showrooms under the brand Sawhney Automobile. Despite two years of negative cash flow, the grey market premium soars over 70%. Have you heard of the PP Waterball story…?
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