Infosys CEO Salil Parekh welcomes Zomato public issue, says internet IPOs will boost innovation in India

Success of internet IPOs like Zomato is incredible and it will give boost to technology business and innovation that is coming out of India, said Salil Parekh, CEO, Infosys on July 14.

Commenting on the internet IPOs in the country, Parekh, during the announcement of the company’s first quarter results, said, “It is incredible to see the success of all of these companies, many of them that are based on technology and in the way that they leverage it in the digital ecosystem. I think it is going to give a lot of boost to all tech businesses within the country and also innovation over the years increasingly coming from India.”

He further said it was impressive what these companies are building and wish them all the best in what they are building. “In any areas in the technology side that we can help we will absolutely support them,” he added.

Parekh's comment comes on the day of Zomato's successful IPO, as the offer has been oversubscribed on the first day of the bidding process itself. Apart from Zomato, Paytm, Policybazaar, Mobikwik, Nykaa, and Delhivery are also firming up plans for a public listing in India, even as there is a buzz of Flipkart and Freshworks listing in the US.