MC Insider: A lesson in unintended consequences and a fancy villa in the US

When several marquee domestic and foreign funds protested “disproportionate” allocation in a recent IPO, the intention was noble: signal pushback, demand fairness, restore balance. What did they get instead? A masterclass in unintended consequences.

The promoter didn’t blink, investment bankers couldn’t do much, and the issue sailed through with the same allocation. The protestors stayed out, and the stock proceeded to list with 50% gains, one of the best debuts of the year.

Now the worry is this: Has the protest actually emboldened promoters? If issuers realise they can hard-code allocations, push aside banker advice, and still walk out heroes on listing day, the power equation in IPO cap-table construction may tilt sharply in their favour. Ouch.

This storied investor has had a standout 2025 thanks to some early bets paying off. But there’s no sign of him slowing down. We hear the investor, always great at spotting and chasing momentum, is increasingly spending time in the US, the heart of all AI action.

What’s more, has even bought a villa belonging to a former American athlete for a cool $20 million.

Expect a lot more AI bets and US-led announcements from this fund in 2026.