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How the super-rich are distorting merchant banks’ IPO price discovery efforts

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How the super-rich are distorting merchant banks’ IPO price discovery efforts
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When hypermarket chain D-Mart made its debut on the stock markets in March this year, its shares doubled on the first day itself. The blockbuster listing came after its initial public offering turned out to be one of India’s most successful ever thanks to heavy demand from investors, especially high-net-worth ......

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