Despite the absence of demonstrated profitability, valuations are often built on gross merchandise value and market share rather than earnings or free cash flow.
Business
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Moneycontrol30-12-2025, 22:56

FMCG Distributors Demand SEBI Halt IPOs of Loss-Making Quick-Commerce Firms

  • AICPDF urges SEBI to pause IPOs of loss-making quick-commerce and e-commerce companies.
  • Cites ongoing CCI investigations into alleged predatory pricing and anti-competitive conduct.
  • Highlights concerns about business models sustained by private capital, subsidies, and lack of profitability.
  • Warns against unfair risk transfer to small retail investors and destruction of kirana livelihoods.
  • Mentions Zomato and Swiggy as examples where early investors exited despite continued losses.

Why It Matters: AICPDF wants SEBI to stop IPOs of unprofitable quick-commerce firms to protect investors and kiranas.

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