Zerodha Founder Nithin Kamath Applauds Recent IPOs, Emphasizes Need for More Homegrown Companies to Go Public
Zerodha founder Nithin Kamath expressed his enthusiasm for the recent initial public offerings (IPOs) of Ola Electric, Unicommerce, and FirstCry, highlighting the importance of more homegrown companies going public for the growth of the Indian market.
Kamath congratulated the three companies and noted the positive investor response, indicating their satisfaction. He emphasized that more domestic companies listing on the stock exchange and offering attractive returns to IPO investors are crucial for market growth. This incentivizes more companies to consider IPOs and attracts both retail and institutional investors.
Quoting Securities and Exchange Board of India (SEBI) member Ananth Narayan, Kamath acknowledged the issue of limited supply of new securities in India, particularly in the context of increasing domestic investments.
Unicommerce eSolutions made a stellar debut on the stock market, with its shares listing at Rs 235 on NSE, a 117.59% premium over its IPO price. Similarly, Brainbees Solutions (FirstCry's parent) witnessed a strong debut, with its shares listing at Rs 651 on NSE, a 40% premium over its IPO price.
Ola Electric Mobility continued its upward trajectory, with its shares surging 18.82% to hit a record high of Rs 130. The stock has rallied 49.72% from its IPO price of Rs 76 after a flat listing on its debut.