As SME IPOs gain traction among investors, regulators are moving to formalise the market with stricter controls. The NSE recently imposed a cap on SME issue listing prices at 90%, independent of grey market trends. This impacted Nephro Care, which despite a 300% pre-listing GMP, debuted at only a 90% premium due to the exchange’s price cap.
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,