Investor Jhunjhunwala steering clear of Indian IPOs due to valuation concerns

Investor Jhunjhunwala steering clear of Indian IPOs due to valuation concerns

Rakesh Jhunjhunwala, Partner, Rare Enterprises, speaks during an interview with Reuters in Mumbai, India November 14, 2017. REUTERS/Shailesh Andrade

A major Indian share investor, Rakesh Jhunjhunwala, said he is steering clear of all initial public offerings for now as valuations have skyrocketed amid strong inflows and exuberance in equity markets.

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