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With the market going great guns, there are a large number of companies which are getting ready to list themselves through initial public offerings (IPOs). Many of them are big names, such as Reliance Nippon Asset Management Company, ICICI Lombard and HDFC Life, among others.
And there is something unique about all these stocks – either there are no or just one or two listed peers. In the absence of listed peers, these stocks are likely to command scarcity premium. The question: How much premium should a retail investor pay for a stock which has none or few listed peers?
