Markets at a Crossroads: Valuations, IPOs & the Next Cycle | Capital Compass

Sponsored by Adfactors PRAre India’s capital markets entering a phase of correction or consolidation?In this episode of Capital Compass, Prashant Jain, Co-founder & CIO, 3P Investment Managers, breaks down where we are in the market cycle as we head into 2026—and what investors may be getting wrong.From the surge in small and midcaps to the reality behind IPO returns, this conversation unpacks the gap between expectations and fundamentals. Jain explains why valuations—not narratives—will determine outcomes, and why investors need to reset return expectations in a maturing market.The discussion also explores:Why small and midcaps may not deliver broad-based returnsThe real outlook for IPOs amid buoyant marketsWhere value lies today across sectorsHow domestic flows are reshaping market dynamicsIndia’s structural strength despite global volatilityAs narratives shift from momentum to fundamentals, the question is clear: are markets priced for reality—or still chasing optimism?Watch the full episode for a grounded, long-term view of India’s capital markets.Capital Compass brings you expert-led clarity on markets, policy and the economy - helping investors, professionals and business leaders make sense of complexity.Listen to the audio podcast on: Spotify, Apple Podcasts, Amazon Music and more.Watch more episodes on Mint's YouTube channelHave questions or suggestions? Write to [email protected]#IPO2026 #CapitalMarkets #IndianStockMarket #IPOIndia #EquityMarkets #Mint #CapitalCompass