Promise and perils of the internet IPO frenzy9 min read . Updated: 29 Jul 2021, 11:39 PM IST
- Do mega valuations reflect the true value of internet businesses even after factoring in the novelty value?
- As of 16 July, there were 73 firms with an m-cap of over ₹65,000 crore. The gulf between the profit metrics of these firms and the likes of Zomato will soon become a matter of reckoning
About 3.2 million individual investors applied to own shares of Zomato in its initial public offering (IPO), which listed on the stock market last week. That is as many individual investors who owned shares in Reliance Industries Ltd, India’s most valuable company, on 30 June. Or about one-third the number in Tata Consultancy Services Ltd (TCS), India’s second-most valuable company.
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