Feature

Public party - Part 1

Riding the novelty train has fetched newly-listed companies a massive valuation. But can they sustain their gains?

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flurry of IPOs, from still-nascent and emerging sectors, have hit the capital markets recently, with most drawing positive response. Seven of the 10 public offers in 2016 have been oversubscribed — the highest being Teamlease at 65x. Is this simply bull market exuberance or are these sectors really worth the valuation?