The valuation email that defined Zomato’s IPO: Why Sanjeev Bikhchandani’s warning to Deepinder Goyal still echoes

Before Zomato’s 2021 IPO, Info Edge founder Sanjeev Bikhchandani advised pricing for balance: protect retail investors, satisfy institutions, and ensure long-term reputation. His framework emphasised conservative pricing, avoiding excessive first-day pops, and maintaining trust. The guidance foresaw risks of underwater IPOs, highlighting ethical and strategic considerations for high-growth tech listings.

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FPIs withdraw Rs 48,056 cr from D-St in Oct

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