The article argues that India's current IPO-OFS (Initial Public Offering - Offer for Sale) regulations are overly promoter-friendly, potentially harming retail investors. It contrasts current practices, where loss-making companies can command high premiums, with historical listings. The author contends that the OFS mechanism, often tied to IPOs, facilitates promoter exits at inflated valuations, suggesting a conflict of interest that SEBI (Securities and Exchange Board of India) should address to better protect retail investors.