When questioned about whether Info Edge will hold onto its Zomato stake with reports of an initial public offering (IPO) looming for the food delivery platform, Sanjeev Bikhchandani said "we are not in any hurry to sell anything. We are not running out of funds. We see substantial value creation going forward. Having said that – never say never, but there is no pressure for us to sell". In September this year, Zomato CEO Deepinder Goyal announced intention to take the company public in 2021. Bankers and legal advisors have reportedly been hired. "The challenge in India is that early stage investments take a long time to create value," Bikhchandani, founder and ex-vice-chairman of Info Edge (India) Ltd., which is one of Zomato's earliest investors, said on a investor call on Wednesday. "IPOs take a long time to happen. If Zomato and PolicyBazaar IPOs happen in the next 1-3 years, it would have taken 11 years and 13 years [respectively] to go from inception or first round to IPO. Most VC funds are 8-year funds with extensions. To get exits, we have to be very patient. We have been in Zomato and PolicyBazaar for 10 and 12 years and a lot of the value creation happened in the last two years," he said. "To really make money in in India, you have to be very patient and stay with a company for a very long time - and that’s fine," he added in conclusion. Info Edge CEO Chintan Thakkar said…
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