‘Dumb money is chasing dumb IPOs’: Shankar Sharma on India’s public markets amid Lenskart buzz

November 1, 2025

Veteran investor Shankar Sharma slams India’s IPO market as the “dumbest in history,” citing Lenskart’s pre-IPO activity. He alleges a “beautiful little game” where anchor investors create artificial legitimacy, leading to inflated valuations. Sharma claims companies exploit retail investors’ anchoring bias, causing stocks to collapse post-listing, only for investors to be trapped again.

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