Ghazal Alagh, co-founder of Mamaearth and ex-Shark Tank judge recently filled a DRHP for Mamaearth’s parent company with a valuation of around $3 billion. Netizens have gone crazy since then and the co-founder is facing a lot of backlash due to the high valuation as a start-up amidst all unicorns suffered after their IPO evaluation.
Zomato and Paytm already faced a lot of losses while boAt withdrew its IPO application. With all unicorns suffering, people are trolling their decision to do it so.
Mamaearth – valuation 24000 Cr, Profit 22 Cr.
HUL – valuation 72000 Cr, Profit 8000 Cr.
— Noel (@noel__r) December 31, 2022
#mamaearth IPO at Rs 24000 valuation when the PAT is just 24Cr. It is like extortion. How can #sebi allow IPO at such huge valuation.R Power, Zomato,Paytm are the examples of planned extortion. Strong action should be taken against Merchant Bankers. @AnilSinghvi_ @SEBI_India
— CA Ammbar Kasliwall (@ammbarkasliwall) January 1, 2023
— Karthik Rao (@trader_rao) January 2, 2023
Guys Don’t Invest in #mamaearth Ipo
It's a Pump and Dump Scheme
Company profits at 22Cr & valuation at 24000 Cr
1100 Times, whom you are making fool
Remember Nyka and Paytm case
IPO is Organised Robbery for these kind of companies and DRHP filing batch#boycottmamaearthipo
— Krish™ (@krishstocks) December 31, 2022