Resourceful Automobile IPO: Bengaluru-based Capitalmind Financial Services’ Founder and CEO, Deepak Shenoy, recently commented on the Resourceful Automobile IPO on X (formerly Twitter). He raised doubts about the 12 crore IPO’s oversubscription and questioned the company’s quality. Despite its 1.5 crore earnings last year, the company is seeking a 31 crore valuation, which Shenoy finds relatively cost-effective compared to other IPOs. However, he acknowledges the uncertainty of the company’s future expansion or lack thereof and emphasizes the risks associated with investing in such ventures.
“Is this company crappy? I don’t know. I haven’t analyzed it. It’s made 1.5 cr last year, and they’re asking for a valuation of 31 cr. I’ve seen a lot more “expensive” IPOs than that – and who knows, they might even expand. Or they might not. These are risks that investors must take,” said Deepak Shenoy.
