Startups in India have welcomed SEBI’s move to relax listing norms with their arms wide open.
The regulation changes have addressed most long-standing demands of startups, and should defer these firms from listing abroad to raise funds.
Here are some of the key reactions from leading voices in today’s Indian startup sector:
“We are currently in the midst of a consumer internet revolution in India, and the next decade will see a very large wealth creation cycle. Listing in the Indian market will allow Indian retail investors to participate in this wealth creation wave,” said Abhiraj Bhal,Co – Founder, Urbanclap.
“Start-up companies would have easier disclosure requirements, and simpler rules for raising capital this will encourage start-ups entry in equity market,” said Diwakar Chittora, Founder & CEO, Intellipaat.
“Most start-ups so far were keen on listing in the foreign stock exchanges, given the current restrictions, but with the current move by SEBI, more investors will be willing to invest in India and more startups will also list in the country in the future,” said Raju Vanapala, Founder, LearnSocial.
“I would have preferred to see Retail investors also having an opportunity to be part of the growth story, 10 Lakhs limit is a little high,” said Shiju Radhakrishnan,Founder & CEO, iTraveller.
“Indian Startups have only HNI s to raise funds from Local Markets. Big entities like (Soft bank in Japan) are needed in India as well. Ratan Tata has taken the lead by investing in a lot of consumer internet Businesses. More Corporate Houses should get into the game and support start ups,” said Vineet Jain, Co-founder & CEO,LoanStreet.
“This is a reflection that the sheer pace with which start-ups have grown over the past year has attracted attention from key decision makers in the country,” said Azeem Zainulbhai, CFO, Housing.com.