How This IPO Banker Built a ₹100 Crore Business in 5 Years | Kushal Lodha #390

Parth Shah, Founder & Director of Smart Horizon Capital Advisors, joins Kushal for a masterclass on merchant banking and SME IPOs. He has listed 80 companies, raised around ₹3,000 crore for them, and built a 50 member firm doing ₹100 crore+ in revenue. He walks through real deals he took on, the ones he walked away from, and why the price you list at decides everything.What You'll Learn:1-Merchant Banking Explained: What a merchant banker actually does, from due diligence to the offer document to listing day.2-Pricing the IPO Right: Why an SME should list well below the sector leader's PE, and why 10x to 20x is the realistic range.3-His Deal Checklist: Positive operating cash flow in 2 of 3 years, 20% growth and at least ₹5 crore profit.4-Red Flags That Kill Deals: A debt default and a promoter demanding 35x, two deals he walked away from.5-Stop Chasing GMP: Why grey market premium is just hype and how to judge an IPO instead.#KonversationWithKushal #SmartHorizonCapital #MerchantBanking #SMEIPO #IPOIndia #IPOValuation #GreyMarketPremium #InvestmentBanking #StockMarketIndia #KushalLodha