Start-ups and IPOs: Here are the lessons from the last three decades

Its the season of startups planning to go public, but how IPOs have fared at the stock markets in the last three decades?

It is the season of talks about Indian start-ups planning to go public after building a healthy consumer traction and raising millions (billions for some) from private markets, namely seed funds, venture capitalists and private equity investors. And it is not just the hugely successful tech start-ups such as Paytm, Zomato, Grofers or PhonePe, even old-world entities such as restaurant chain Barbeque Nation, mortgage provider Aadhar Housing, realtor Lodha Developers, Kalyan Jewellers to country’s numero uno retailer Reliance Retail are reportedly lining their initial public offerings or IPOs, if not in 2021, then certainly in the next two-three years.

Understandably,