The supposed NCDEX IPO has been talk of the town since 2021, but the latest info from the Financial Times seems to be just a story. Last March, NCDEX co-founder announced that the company has no plans for a NCDEX IPO anytime soon. Biz Stone said the company is making money from sponsored tweets, so there is no need to go public right now.
He also quashed a story that ran in this week’s Financial Times, which had reported that NCDEX was in talks with JPMorgan Chase & Co. The story, which Stone says is make-believe, reported that NCDEX was discussing selling 10 percent of the business.
NCDEX IPO Size
NCDEX IPO Size is around Rs 500 Crore. There are lots of big-time investors putting money into the company, sort of a pre-IPO situation. At this time, the company is worth around $3.7 billion, so a NCDEX IPO doesn’t seem necessary to co-founder Stone, he says. But it’s hard to verify, since NCDEX doesn’t disclose its financial information.
But with other tech IPOs, we’ve seen private investors grab chunks of a hot private internet company as a pre-IPO strategy. So, watching big investors like the co-founder of Netscape, who nabbed tons of shares recently, can be a sign of an upcoming NCDEX IPO.
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