Responsibility and Opportunity

Market makers can be really strange, particularly to the old-fashioned eye. And a big example of it is the IPO market.

At OfBusiness, we are a company that has the red-letter day in its sight. Sharply a month back, with the new year around the corner, the market sentiments could not have been more bullish. We were saying we were aiming 12-15 months for listing, and most were of the opinion that we should be thinking of earlier timelines. Given a few bad news (both globally and locally, which we all know), the fervour seems to have turned on its head! In the last week, post supposed postponing of 2 large IPOs; we now get calls from many saying that the market has softened and we should rethink the timing. And yes, there were/ are strong justifications both times.

But to the old fashioned, it’s a trend that may or may not change (after all, that’s why it’s a market) but definitely not something that should drive our decision making. For us, IPOs are about responsibility and opportunity.

Responsibility, 1st, to say that we are ready for the public eye. We are okay to take the scrutiny in exchange for the opportunity that the market presents. Responsibility, 2nd, to say that we are ready to handle public money. It’s of a different level when the salaried and the pensioner are giving their life savings to you. It’s to say that you have built your business responsibly enough that you are ready for it to be valued on “what is” than the long-drawn “what if.” It’s to say that you are duly fulfilling the responsibility to early partners, both team and backers, for what they have believed in for a long.

Opportunity is the recognition and the quality/ cost of capital that comes along. For us, no volatility, no softening, no bull markets can change this equation. If you have built your business responsibly and, in turn, are ready to handle more responsibility, then the opportunity of public markets may be irrespective of timelines.

Read more from CEO speaks Column:-
– Chasing every penny
– Wave and Perseverance