FY25 saw record IPO and QIP fundraising, but most capital hasn’t fueled new projects. Like FY24, funds largely went to debt repayment, general expenses, or promoter exits via OFS. With private investment still below 11% of GDP, hopes of a capex-driven economic revival remain premature.
Paul Black’s 3 thumb rules for identifying great wealth creators
Veteran portfolio manager Paul Black’s investment framework focuses on identifying businesses with competitive advantages that strengthen over time. His three key rules emphasise widening moats,