Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani

Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani

SUMMARY

Sanjeev Bikhchandani said that the companies want to move their domicile to India due to better initial public offering (IPO) prospects in the country compared to other nations.

During a discussion with Inc42 cofounder and CEO Vaibhav Vardhan at Money X, Bikhchandani shared that the IPO standard is higher overseas in terms of revenue, profitability and other metrics. 

Notably, Bikhchandani’s InfoEdge was one of the early investors in Swiggy’s rival Zomato and still holds around 13% of Zomato's total shares, the company which went public in 2021.

With more and more companies joining the reverse flipping parade, Info Edge cofounder Sanjeev Bikhchandani said that the companies want to move their domicile to India due to better initial public offering (IPO) prospects in the country compared to other nations.

During a discussion with Inc42 cofounder and CEO Vaibhav Vardhan at Money X, Bikhchandani shared that the IPO standard is higher overseas in terms of revenue, profitability and other metrics. 

According to him, companies in India target for public listing in 10-12 years since launch. “While Mamaearth went for IPO in just 6-7 years, companies like MakeMyTrip took close to 10 years,” said Bikhchandani.

It is pertinent to note that after a lull in IPOs in 2022 and 2023 due to geopolitical tensions, a raging funding winter and macroeconomic pressures, startups in India are lining up in droves to list on the bourses this year..

The latest ones mulling to go for IPO are Swiggy, Mobikwik, Physics Wallah, Ather Energy, among others.

Notably, Bikhchandani’s InfoEdge was one of the early investors in Swiggy’s rival Zomato and still holds around 13% of Zomato’s total shares, the company which went public in 2021.

Currently, over 90% of startup investors are expecting a funding revival in H2 2024.

Unlike H1 2023, when funding raised by Indian startups cratered 72% year-on-year (YoY), the decline in numbers was a mere 2% YoY in the first six months of the ongoing calendar year.

Also, two startups turned unicorn in H1 2024 (Rapido became the third unicorn of the year in July) whereas the same number of startups (Zepto and InCred) entered the coveted club in the entire 2023. Additionally, the total funding raised by the Indian startup ecosystem since 2014 touched the $150 Bn mark during the first six-month period of 2024.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani-Inc42 Media
Companies Seeking To Flip Back To India Due To Better IPO Prospects: Sanjeev Bikhchandani-Inc42 Media
You’re in Good company