TIECON 2023: Choosing IPOs not a fashion statement, says entrepreneur

Chandigarh, April 29

Start-up founders see initial public offerings (IPOs) as another route for their next round of funding as they face pressure from venture capitalists or angel investors to succeed as early as possible. However, it comes with tremendous responsibility.

Listing out the IPO toolkit to budding entrepreneurs, MakeMyTrip founder Rajesh Magow today underlined that choosing to go for an Initial Public Offer (IPO) is the commencement of an entrepreneurial journey and should be by no means perceived as a fashion statement or a ritual.

“Temptation to go for public listing is massive and it is natural,” Magow said here during an interactive session as part of TIECON Chandigarh, adding that the objectives have to be crystal clear before this decision is arrived at as this comes with greater responsibility and scrutiny. Magow was speaking during the first session of the much-anticipated annual TIE event “From Startup to IPO: Insights from Listed Companies” session.

Elucidating further by digging into his experience reserves, Bloomberg awardee for the Best CFO in 2010, Magow said IPO could be an exit strategy for investors, but this could never be an out route for entrepreneurs and a judicious entrepreneur had to set his sights on the real aim of going public.

Earlier, welcoming the participants, TIE Chandigarh president Robin Aggarwal said: “Over the past two decades TIE, Chandigarh, has gone from strength to strength and we have been successful in providing a solid platform and ecosystem for all budding start-up entrepreneurs”. This, Robin said, had been possible with active and sustained support of all stakeholders, especially all TIE members and volunteers and the state government.

TIECON Chandigarh 2023 is an annual calendar event being organised by TIE, Chandigarh, which is celebrating 20th year of its inception and service to the tech eco-system across the Northern Region. The event was attended by more than 1500 participants and around 50 renowned speakers who interacted with aspiring entrepreneurs during the event.

Companies honoured

To acknowledge and recognise the stellar efforts of various stakeholders in the region’s journey to becoming an IT hub, the TIE Chandigarh chapter, as part of the main event, honoured 17 IT companies with the Software Technology Parks of India (STPI) Awards for excellence and growth during past years.

Want to join politics, says Shark Tank fame

The Shark Tank fame and former co-founder and managing director of Indian fintech company BharatPe, Ashneer Grover, said he was looking forward to joining a political party to initiate impactful changes needed in the industry and society. Grover was in the city as a panellist in the 8th edition of TIECON 2023, North India’s biggest start-up and entrepreneurial event. “I want to join politics to contribute in effecting changes so fundamentally required,” Grover said during a panel discussion.