Will Zomato pull off an Infosys with upcoming IPO?

Synopsis

With respect to these unicorn listings, Indian markets could potentially be at the inflexion point today that Jeff Bezos and others found themselves in, while building a powerful, self-sustaining ecosystem in the US. Like Infosys, India will attract an entirely new class of global investors. The latter, having seen similar models play out in Nasdaq and Shanghai, would eagerly play the multiples arbitrage India’s listed unicorns would provide.

Thirty years ago, India unleashed real reforms that changed us forever. There’s a strong sense of déjà vu today, despite the economy being in dire straits. There’s hope, at least for the financial markets. No one really cares that most of this hope is largely fuelled by global liquidity with asset market valuations bloating to ‘indecent’ levels. This is the ‘new normal’ as excitable fund managers peddle initial public offerings (IPOs) and other

BY

Prabal Basu Roy

ET CONTRIBUTORS

6 mins read, Last Updated:

Jul 09, 2021, 12:07 AM IST

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