What Is SME IPO All About? What's Behind This SME IPO Which Attracted 40,000% Over-Subscription?

Many SME IPOs come and go, but this particular IPO has captured everyone's attention. A very small company, with just two motorcycle showrooms in Delhi... with just 8 employees... managed to attract 4,800 crore rupees in IPO funds. We are today talking of Resourceful Automobiles - whose IPO opened on August 22 and closed on August 26. The company was looking at raising just 12 crore rupees... and managed to attract 40000% subscription... The case has attracted a lot of attention specially after SEBI warned of over-exuberance in the SME sector IPOs. The regulator had as part of its measures, capped listing gains in SME IPOs at 90%. So, what's the story with Resourceful Automobiles... what is driving this absolutely crazy demand and speculation? Let's find out in this video