The co-founder of IT behemoth Infosys was speaking at the ‘India Global Innovation Connect,’ a global startup conference. N R Narayana Murthy, a software icon, said on Friday that IPOs have been used as a “surrogate” for new rounds of financing by entrepreneurs, which is not a good thing.
Overview
The co-founder of IT behemoth Infosys was speaking at the ‘India Global Innovation Connect,’ a global startup conference.
“IPOs have been used as a stand-in for the next round of funding.”I don’t think that’s a good thing because an IPO comes with a lot of responsibility,” Murthy said. Speaking about the discussion he and another Infosys co-founder had prior to the IT major’s Initial Public Offering (IPO), he stated, “The IPO imposes onerous responsibilities…
Because so many people with very little money have put their trust in us and invested their meager disposable income, it is critical that they receive a suitable return.”The event was organized by Smadja & Smadja, a strategic advisory firm based in Switzerland, in collaboration with the Karnataka Digital Economy Mission (KDEM), Catamaran Ventures, and Tata Digital.
