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BENGALURU — Foreign investors have the potential to make or break upcoming tech IPOs in India as domestic funds remain cautious about backing loss-making young ventures.
In the first half of the year, foreign portfolio investors almost tripled their holdings in three startups and now hold 33.3% of food delivery service Zomato, 22.7% of logistics company Delhivery and 16.8% of financial services provider Paytm. In addition, their share of insurance startup Policybazaar doubled to nearly 30%. For lifestyle company Nykaa, it’s up one and a half times to 10%.
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