HDB Financial’s pre-IPO lottery backfires. Are unlisted stocks not worth the hype?

Pre-IPO investments are under scrutiny after HDB Financial Services’ IPO price disappointed investors. Experts caution against the hype and opaque pricing in the unlisted market. Some investors who bought shares years ago still see gains. However, recent buyers face potential losses. Radhika Gupta warns against mis-sold hype around unlisted stocks. Investors should focus on valuations and long-term potential.