Samir Arora says Helios Capital won't apply for any IPO in remainder of FY22
Samir Arora of Helios Capital told CNBC-TV18 his firm wouldn't apply for an initial public offering in the Indian market for the remainder of FY22.
Samir Arora, Founder and Fund Manager at Helios Capital, said on Monday that his firm would not apply for any initial public offer (IPO) in the Indian market for the remainder of the current financial year.
“Generally, I would think that from today, November 8 (2021), to March 31 (2022), I don't think I will be buying any more IPOs by looking at the list of names. I am just looking at the current list of things and knowing broadly what they would do,” the veteran fund manager said in an interview to CNBC-TV18.
Speaking on initial public offers in the fintech space, he said: “There are 150 or maybe 250 fintech (companies) all wanting to say that, in which, of course, Paytm is way ahead... We have seen today, in India, there is one problem, that the bottom of the pyramid is hurting like bad.”
“My Diwali prediction is that one of the fintech (companies) will blow up before it goes public or maybe more,” warned Arora.
“First it was Spandana; the founder was fired effectively with zero notice. So, by definition, it must be having some problems which are beyond normal. Otherwise, the promoter who owns some 17-18 percent of the company is not fired by private equity in one day. Second, Bandhan Bank.... Suddenly they realised in August or July that there is a problem. And whatever we say even in IndusInd Bank, the problem is coming up in the microfinance. So in some sense, microfinance represents the same," he said.
Also Read: Paytm IPO subscribed 9% so far on Day
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