Whalesbook
Toh bhai, ye jo IPO market mein ekdum shaanti hai na, iske peeche kaafi reasons hain. Sabse bada toh ye duniya bhar mein chal rahi tension hai, especially West Asia mein, aur oil prices ka fluctuating scene. Is wajah se badi companies soch rahi hain ki abhi ruk jaate hain.
Ajeeb baat ye hai ki ek taraf toh market mein tezi hai. April mein Sensex lagbhag 6.87% aur Nifty 7.46% upar gaye. Nifty toh 24,000 se 24,600 ke beech mein fluctuate kar raha tha. Par itni achhi market mein bhi naye listings nahi aa rahe.
Agar Nifty aur Sensex ka P/E ratio dekho toh woh bhi kaafi high hai, Nifty 50 26x par aur Sensex 23x par. Ye dikhata hai ki market mein optimism toh hai, lekin naye IPOs mein investors ka interest kam hai.
Asal mein, pichhle saal jitne bhi IPOs aaye the, unmein se bahut se toh apne issue price se bhi neeche trade kar rahe hain. Isse investors ka confidence bilkul down ho gaya hai. Jab tak market mein ek strong aur sustained rally na ho, especially Nifty 25,000-26,000 ke paar na jaye, tab tak primary market mein zyada activity nahi dikhegi.
Is slowdown ka risk ye hai ki companies jaise PhonePe bhi apna IPO postpone kar rahi hain, matlab growth ke mauke kho rahe hain. Investors bhi ab bahut selective ho gaye hain. Aur haan, jo recent IPOs aaye hain, unka average P/E 30s se 40s mein tha, jo unke actual performance se match nahi karta. Isliye, sabko lagta hai ki jab tak market mein clear upward trend nahi aata, tab tak IPO market shaant hi rahegi.
Toh filhaal toh aisa hi lag raha hai ki jab tak Nifty 25,000-26,000 ka level cross karke sustain na kare, aur market mein genuine bullishness na aaye, tab tak naye IPOs ka intezaar karna padega. Sab wait and watch mode mein hain.