Flipkart's Sachin Bansal says Indian markets not ready for big Internet listing

The recent stock market listing on Indian bourses may have boosted sentiment of several prospective unlisted companies to take the IPO route, but e-tail giant Flipkart doesn't think the country's markets have the appetite to absorb large-size public issues of Internet companies.

Binny Bansal (left) and Sachin Bansal

Binny Bansal (left) and Sachin Bansal

The co-founder of Flipkart said on Saturday that the country's stock markets were not yet ready for a large Internet listing.

Sachin Bansal's comments at a startup conference in New Delhi came days after a rejig in the top management that was viewed by some as a step toward a stock market listing.

"Indian markets are not yet ready for a large Internet company listing but we would absolutely love to list here when the time comes," he said.

But India's junior minister of finance Jayant Sinha told in the same conference that listing of Internet stocks on Indian markets would be a big boost for the economy.

India's market regulator has eased some rules to make it easier for home grown start ups to list their shares on local bourses.

Earlier this week in a top management reshuffle, Binny Bansal was named the company's new CEO and another co-founder Sachin Bansal became Executive Chairman of Flipkart.

The management rejig comes amid talks that the country's biggest e-commerce company is preparing for an IPO in the US.

With inputs from Reuters

Updated Date: Jan 16, 2016 19:07 PM

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