While many entrepreneurs have lost sleep once the market stripped the bountiful IPO gains, Yashish Dahiya is the picture of calm. He didn't find much reason to celebrate when his company listed at a premium, and he's not much worried about the rout—what he wants to understand is the logic behind both
Gurugram, January 2023. Yashish Dahiya is not an entrepreneur, he is an emotion. Sample this. “I was not very excited on the day of listing,” confesses the CEO and co-founder of Policybazaar. PB Fintech, which has Policybazaar and Paisabazaar as India’s largest online platform for insurance and lending products, respectively, got listed on November 15, 2021. Any founder whose company gets listed at a 17 percent premium—listing price of ₹1,150 versus an issue price of ₹980—should have all the reasons to be excited, elated and celebrate.
Dahiya, though, was doing none. He was pensive. This is why. “I could see all the expenses happening,” he recalls. The cost of an IPO, underlines Dahiya who co-founded the company in 2008, is quite high. “It is almost 3 to 4 percent of the funds that you’re going to raise,” he says. “I was a bit worried about a lot of expenses.”