Yatra Evaluates Potential Listing Of Indian Subsidiary In India inc42.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inc42.com Daily Mail and Mail on Sunday newspapers.
Internet initial public offering (IPO) news is coming from all corners: Flipkart, PolicyBazaar, Zomato, Ola, Freshworks, PepperFry, Nykaa and Delhivery are all at various stages of finalising their plans. According to an HSBC Global Research report, more than $60 billion was invested in India’s internet sector in the past five years – around $12 billion of that in 2020 alone. There were 34 unicorns in India as of February, according to research firm Tracxn.
However, there is a bump. Most Indian start-ups are loss-making. Securities and Exchange Board of India (Sebi) rules make it nearly impossible for loss-making companies to list on Indian bourses National Stock Exchange (NSE) and BSE. Also, a set of Indian start-ups are listed in Singapore or held by a holding company there; these cannot list in India.
Should Sebi allow special purpose acquisition companies (Spacs) to be set up in India, in addition to the Innovators’ Growth Platform it already has in place and proposes to refine, to help startups go public.