More than a dozen domestic institutional investors (DIIs) including the likes of HDFC Mutual Fund , Axis Mutual Fund, Mirae, ICICI Prudential , with $250 billion under management, met with the founders and leadership teams of Indian unicorns Swiggy, Meesho, Unacademy, Lenskart and Acko, among others, all of which are eyeing a possible stock market listing in the next two years. The two-day meeting, held in Bengaluru and hosted by Japan's SoftBank and JP Morgan , was aimed at helping the domestic public investment community understand some of the tech businesses and their path ahead. The meeting is significant as it comes at a time when the global tech industry is going through a major correction in both private and public market valuations. “DIIs are a vital constituent of the Indian stock market, and they will only get more important with time… As more tech companies go public and become a more significant part of the indices, it is essential for these two constituents to build a relationship and understand each other better,” said Sumer Juneja, managing partner and India head, SoftBank Investment Advisers. Last year, eight Indian startups listed on the public markets, including the likes of Zomato ,… Read full this story
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