A $1.4 million IPO overbought 400 times shows India stock frenzy

Quick Summary:

The New Delhi company aims to raise 120 million rupees to repay debt and expand showrooms.

An IPO by small Indian motorcycle dealership Resourceful Automobile Ltd was oversubscribed over 400 times.

Despite regulatory warnings, India's new-share market remains overheated with IPOs averaging over 50% gains since debut, driven by strong retail investor demand.

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Article Details

Author / Journalist: Bloomberg

Category: EconomyBusiness

Markets: IndiaSingapore

Topics: Business news Hyundai Motor Co Sawhney Automobile India stock frenzy Ola Electric Mobility Ltd Resourceful Automobile Ltd IPO Yamaha Motor Co

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-27 @ 17:08:10 (6 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 22279514

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 12 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 1 hours ago

Coverage Areas: India

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Publication Timezone: GMT +5:00

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Publisher ID: #28

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