Zomato s shares hit a record high as its profitability improves, making it India s most valuable internet stock. Investor sentiment has reversed, and Zomato dominates the food delivery market. Blinkit, its quick commerce business, is expected to drive further growth.
Jefferies predicts IPO (initial public offering) and FPO (follow-on public offering) issuance could hit 4-5 percent of market capitalisation, mirroring China s figures.
PayU Payments strengthens corporate governance with new board members, including Renu Sud Karnad, IUHF president, and Laurent Le Moal. PayU India plans for a public listing after selling global operations to Rapyd.
Sanjeev Bikhchandani discusses the Startup Mahakumbh event in India, aiming for it to become a marquee event. He highlights the success of listed and profitable start-ups. He emphasizes the importance of a solid business model with a compelling value proposition. He mentions the challenges in the start-up ecosystem and the need for a balanced policy approach.