Swiggy, India’s second-largest consumer app, made its debut on Dalal Street on November 13. Despite steady revenue growth, investors' reaction to its IPO was muted due to the company's continued losses and competitive nature of the business.
However, listed new-age technology stocks are, of late, finding favour among institutional investors who are looking to bet on them for the long term. As of October 31, the market value of mutual fund holdings in these companies nearly tripled to Rs 74,223 crore, up from Rs 25,051 crore seen last year.
Unlike asset-heavy traditional companies, new-age companies bet on innovative business models that leverage technology to enhance their operations.
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