Everyone is talking about Resourceful Automobile IPO. A company operating just 2 Yamaha bike showrooms in New Delhi was looking to raise around Rs. 12 crore through IPO. And guess what – applications received were worth over Rs. 4,760 crores (resulting in subscription over 418 times). With just 8 employees – 3 in legal/finance, 2 in sales, 2 in operations and 1 in Human resource, company applied for SME IPO. Is it FOMO (fear of missing out) playing in the markets ? Stock markets are over flooded with funds and now in this market fundamentals have got no relevance.
#stockmarketgandahai#stockmarketgalathai#stockmarketghatiyahai#eliminatestockbabas