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Mindspace to Happiest Minds, HNIs lap up IPOs. What’s wooing NBFC moneybags? Listing-gain hopes.

Mindspace to Happiest Minds, HNIs lap up IPOs. What’s wooing NBFC moneybags? Listing-gain hopes.
Mindspace to Happiest Minds, HNIs lap up IPOs. What’s wooing NBFC moneybags? Listing-gain hopes.
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Image concept by Pravin Palande and Muhabit ul haq

Synopsis

HNI investors are betting on equity markets for higher returns. A sample set of IPOs ET Prime analysed shows that HNIs have subscribed most to issues that saw over 50% listing gains. With more IPOs coming in, there is a spate of NBFCs ready to finance the HNIs. But listing gains don’t always translate into long-term outperformance.

It all started a couple of months ago. The stock market had just recovered from a precipitous fall of almost 40% in March. People had enough time on their hands to make decent money by betting on quality stocks. Market sentiments had turned positive in just four months. Then came the Rossari Biotech issue. It got a huge response from investors and listed at INR670 or 57% premium over its issue price of INR425 on July 23, 2020. The HNI
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