- IPO reality check: Since 2024, 198 IPOs launched but only about 35 delivered sustainable long-term gains. Many now trade below issue or post-listing highs. Listing hype fades fast — capital protection matters more than chasing momentum.
- Capital protection wisdom: Control position sizing and avoid excess leverage. Big losses usually come from poor risk management, not the market itself. Survival in volatile phases ensures participation in future upcycles. Never hold positions that disturb your sleep.
- SME alert: Recently listed SMEs have corrected 30–80%, exposing liquidity and valuation risks. Over 80% of SME IPOs in the last five years reportedly trade at discounts. Kanishk Aluminium (-41.5%), Aritas Vinyl (-69.6%), Armour Security (-54.6%), Narmadesh Brass (-65.0%), Yajur Fibres (-67.0%), Victory Electric (-55.2%), Sundrex Oil (-69.8%), Dachepalli Publishers (-35.2%), Marc Technocrats (-34.97%), Naptune Logitek (-64.0%), Shipwaves (-63.4%), Riddhi Display (-63.1%), Methodhub Software (-37.1%), Western Overseas (-62.6%), Shri Kanha (-73.1%), Astron Multigrain (-69.9%), Logiciel Solutions (-77.7%), KK Silk Mills (-63.8%), SSMD Agrotech (-62.4%), Excelsoft Technologies (-31.91%), Shining Tools (-46.2%), Safecure Services (-66.6%), Shlokka Dyes (-72.3%), Mittal Sections (-79.4%), Chiraharit (-64.0%). Bull market listings don’t guarantee returns. In SMEs, risk management is survival, not choice.
- Market breadth concern: Most cash stocks continue to correct sharply, with broad-based drawdowns despite relatively stable indices. Retail sentiment appears weak as a large percentage of stocks trade 20–90% below highs. Narrow index leadership versus broader weakness has increased frustration, and liquidity in many cash names remains thin, making exits difficult during volatile phases.
- France DTAA change impact: India’s proposed removal of the MFN clause from the DTAA with France could end capital gains tax exemptions for France-based FPIs. With nearly $21 billion invested via this route, the move may raise tax costs and reduce treaty arbitrage. If implemented, it could weigh on FPI flows and near-term market sentiment
