The only mainboard IPO for this week, what you should know
Well, secondary market went for a tail spin for the concluded week as we witnessed bloodbath following Israel-Iran conflict, and under this pretext, markets corrected which was long overdue.
However, it appears that this may have cascading impact on primary market as well. This week we have just one mainboard IPO from Garuda Constructions, for which my review is available on the following link:
Just last year in July 2023, group company PKH Ventures Ltd. tried its maiden float, but could not succeed and the issue got withdrawn under the pretext of bad market conditions. For this IPO also, perhaps similar situation is in place. The company has higher receivables than its top lines which raises concern.
However, investors looking for parking their funds for this IPO must consult their financial advisor before concluding investment.
Similar thing is likely for SME IPOs as well. So let us wait and watch the things that are likely to take shape.