If it is the monsoon season, surely it must be raining. But that apart, there’s a downpour of another kind – that of the IPOs in the Indian markets. It could be a global phenomenon where record money is being raised on NASDAQ and other stock exchanges; however, the frenzy in IPO markets in India this time around is unique in the sense that it highlights the emergence of internet companies and start-ups successfully listing with eye-popping market capitalisation. Who would have imaged that Zomato would one day get listed and that too with a market capitalisation of more than ₹1,00,000 crore!
For many this is unbelievable as the amount of wealth being created by this start-up is humongous and leaves behind several established companies in terms of market capitalisation. For instance, the market capitalisation of Zomato is higher than that of Hero Motors Company! With the kind of free float Zomato enjoys, it could easily be a part of Nifty 50 and may enjoy passive money flow in the form of ETF from overseas. Such success stories are worth mentioning and remembering as it shows that the Indian markets in general are getting matured and have enough space to accommodate start-up listings.
This story is from the August 02, 2021 edition of Dalal Street Investment Journal.
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This story is from the August 02, 2021 edition of Dalal Street Investment Journal.
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