Unlisted frenzy: Zerodha’s Nithin Kamath warns retail investors as HDB IPO, CSK shares lure crowds; Sebi alert add to caution

Zerodha’s Nithin Kamath cautions retail investors about the unlisted shares craze, highlighting significant risks like lack of price discovery and liquidity. He points to HDB Financial Services’ IPO as an example where valuations crashed below unlisted trade levels, burning early investors. SEBI has also flagged unregulated platforms facilitating these transactions, warning against violations.