India's IPO market is thriving, particularly among small and medium enterprises (SMEs), with nearly 600 IPOs launched this year, and 87% of SME IPOs in the first half of 2024 yielding positive returns. In stark contrast, major IPOs from well-known companies like Hyundai Motors and Ola Electric have struggled, with many failing to outperform the CNX 500. Experts warn that the current enthusiasm for smaller firms may be leading to inflated valuations, highlighting a shift towards thrill-seeking investments over solid fundamentals.
