Mumbai: Welcoming Zomato’s IPO on Wednesday, Infosys Chief Executive Officer Salil Parekh said that Internet IPOs like Zomato will boost India’s technology business. Parekh’s remarks come days after Tata Consultancy Services (TCS) Chief Executive Officer Rajesh Gopinathan welcomed India’s upcoming Internet IPO. In the backdrop of food delivery platform Zomato’s IPO, Gopinath said after TCS’s first quarter results last week that high-risk capital is very good news and a sign of maturity of the Indian capital market.
During the company’s first quarter results announcement, Parekh said, “It’s incredible to see the success of all these companies, many of them based on technology and the way they leverage it in the digital ecosystem. I think That’s going to give a big boost to all this tech businesses.”
Parekh’s comments come after the successful IPO of Zomato, which was oversubscribed on the first day of the bidding process. Zomato aims to raise Rs 9,375 crore through its ongoing IPO, which will close on Friday, July 16, making it the first consumer internet company and startup to raise money in the post-pandemic era.
Apart from Zomato, Paytm, Policybazaar, Mobikwik, Nykaa, and Delhivery are also planning to go public in India, even as there are speculations of Flipkart and Freshworks going public in the US.