Will not invest in IPOs at current valuations: Rakesh Jhunjhunwala

In an exclusive interview to CNBC-TV18, the big bull, Rakesh Jhunjhunwala of RARE Enterprises, spoke about what he thinks of some of the new initial public offerings (IPOs) hitting the Street and their mega valuations.

“I have no interest. Suppose something is relevant of valuation, at these valuations any company is going to be good, I am not going to invest. So, I would not like to comment on individual companies, but by sheer valuations, I don't have any interest in this, but I love and respect the dedication, the speed with which the new-age companies are working,” Jhunjhunwala said.

According to him, new fintech companies do not pose a threat to banks. “What is it that you cannot do in HDFC (bank) that you can do in any fintech? Why can’t the other banks also become the collection agents; just remember one thing, the biggest source of finance and the biggest oil in the furnace of the finance industry is deposits,” said Jhunjhunwala.