The reasons are two-fold: the focus on profitability has become key criterion investors now seek for new-age start-ups looking to get listed. Secondly, due to reducing liquidity scenarios, public markets have started to give a far lower multiple to such businesses.
Jio Platforms gets first Buy call! Nomura says ‘disruptor now the leader’; starts coverage with Rs 1,340 target
Shares of Jio Platforms listed at Rs 1,359 on BSE and NSE, a premium of 21% over the IPO price. Nomura set a target price