With 240 SME IPOs giving an average return of about 86% in 2024, ICICI Prudential Mutual Fund's CIO S Naren has warned retail investors against venturing in what he calls the most dangerous part of the market.
"Investors have been bullish on IPOs, even on SME IPOs where we have been worried about the quality. Luckily, we don't have to participate in them, but we are very worried about the quality of IPOs. And the regulator has also been worried both about SME IPOs and the derivative segment," Naren told reporters in conference.
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