Nimesh Kampani on stocks in unlisted space which have got re-rated

economictimes.indiatimes.com:

«And, of course, unlisted space, when people started discovering that maybe around 10 years back, you would see value buys,» says Nimesh Kampani, 108 Capital.In last four months of this comeback equity market for the listed space, what has happened in the unlisted space? Has the unlisted space got re-rated? If yes, which are some stocks where the re-rating has been massive?The markets move in tandem. So, of course, public markets will always be at the forefront and be the barometer and then the private markets follow that. And private markets have now two parts.

One is the unlisted space which is where a large part of companies get traded by a certain number of brokers in the country and retail gets to participate in that. And the other is the startup ecosystem as you speak because there largely you have institutional shareholders and trading does not really happen much. And, of course, unlisted space, when people started discovering that maybe around 10 years back, you would see value buys.

So, you would get companies like Star Accessories at around five times earnings.RBL Bank was very cheap at that time. HDB Financial was very cheap. Today what has happened is that all of these stocks are completely discovered as good as a public market stock.

So, they are completely fully priced. What remains to be seen in there which is where people would be making money is event-based opportunities. So, most of them, the main event that comes around there is an IPO.