"This slowdown has been driven by a combination of factors, including a lack of quality companies, elevated valuations, and company-specific concerns," said Hitesh Dharawat, founder of Dharawat Securities. "Additionally, the underperformance of recent IPO listings has made investors more cautious about entering at the pre-IPO stage."
Trading volumes in the unlisted market, according to him, have d...
The narrative describes a structural shift where market activity and investor focus have moved from the speculative, liquid environment of pre-IPO unlisted assets to established, high-growth listed equities. This shift suggests that the perceived risk and valuation associated with the private market have increased, driven by the underperformance of recent IPO listings and company-specific concerns. The decline in unlisted trading and the subsequent concentration in the NSE points to a re-priorit...