This is the story of the Resourceful Automobile SME IPO which will list on the 29th of this month.
Here’s what makes this IPO super crazy:
- It owns 2 Yamaha dealership showrooms and has 8 employees.
- Has profit of Rs 42 lakhs in last FY but has borrowing of nearly 7.5 crores
- The company wanted to raise 12 crores at a valuation of 31 crores at the iPO price (at nearly 80 PE) but got bids of 4000 crores with 500x over subscription by retailers !!!
Time for our pani puri bhaiya to come up with an IPO
