Reading the market, one rupee at a time.
Equity research from the balance sheet up — and IPOs from the retail investor’s side of the order book.
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(02)The issuer
MAK · Pre-listing
Maksud Ahmad Khan
Finance fresher and NISM Series XV Research Analyst, now on the PGPM at ICFAI Business School, Mumbai.
Based inMumbai, India
StudyingPGPM, IBS Mumbai ’26–28
CertifiedNISM XV, Research Analyst
On campusPlacement Cell · Kautilya
(03)
Approach
I read balance sheets the way traders read charts — for the story underneath. My work sits where fundamentals meet sentiment: valuing businesses, mapping price action, and studying how retail investors really behave in India’s IPO market.
₹ · 1D
O —H —L —C —
(04)Work
Research &practice
From the balance sheet to listing day
A study of retail IPO participation and market sentiment, BMS Finance, University of Mumbai.
Fundamental & Valuation Analysis
Independent researchTechnical & Price-Action Charting
Independent researchPrimary Market (IPO) Evaluation
Independent research(05)Credentials
The fundamentals.
Education & certification
0%BMS FinanceLala Lajpat Rai College, University of Mumbai, 2023–26.
XVNISM SeriesResearch Analyst certification.
’0PGPMICFAI Business School, Mumbai, 2026–28. Placement Cell coordinator, Kautilya finance club.
(06)Notes
From the order book.
Reading filings, so the numbers come first
4 Nov 2026
Eleven stops through Jio’s actual filings, in plain language, including the debt footnote most readers would miss.
4 Nov 2026
Before you read the rest of an offer document, find out who is actually getting your money: the company, or the people selling to you.
4 Nov 2026
QIB, NII, retail, lots and lotteries: what happens to your application after you press submit, using the numbers from Jio's IPO.
4 Nov 2026
They get shares before you can even apply. Who anchor investors are, how their lock-ins work, and which dates are worth putting in your calendar.