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Practo plans IPO in 18 months
Mint Mumbai
|October 31, 2023
The proceeds of the initial public offering will be used to fund future growth, the company's co-founder said
Tencent-backed healthcare and diagnostics app Practo is looking to go public with its initial public offering (IPO) within two years, said co-founder and chief technical officer Abhinav Lal. The company is likely to turn profitable in FY24, he added.
“We should end FY24 with profits. Not a quarter, not a month, but a full-year profit. We should be in the green again after 14 or maybe 12 years. With the focus on profitability, we are 12-18 months away from an IPO."
Lal said the proceeds of the IPO will be used to fund growth, considering that investors are not looking to exit.
“None of them... (investors looking for an exit), thankfully for us. That’s where we have been very selective. To be very honest, a lot of it is going to be about future growth," he added.
Cette histoire est tirée de l'édition October 31, 2023 de Mint Mumbai.
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