Seetharaman G

Mumbai Bureau Chief • India Edition

Starting out as a business journalist in 2008, Seetharaman has written about energy, climate change, retail, banking, and technology. He has worked with Business Today, a fortnightly, and the Sunday edition of The Economic Times.

43 Articles published

Top Comments by Seetharaman G

DMart’s e-commerce tortoise squares off against the JioMart hare

Thanks, Subbarao. Another study also pointed out that JioMart is DMart's closest rival when it comes to prices. And that's not surprising since they target customers who are very different those who shop on BigBasket. I can't speak to the deterioration in the quality of JioMart's services. The last time I placed an order on JioMart–in May–it was delivered by Grab, which is a company Reliance bought in 2019. I'm not sure they use third-party logistics providers in some cities.

Seetharaman G

Why India shouldn’t repeat IRCTC’s valuation misstep with LIC’s IPO

I get your point, Mithil. I agree that the government cannot afford for the IPO to not happen. But they have already presented a certain picture of LIC's valuation, so a number substantially lower than that becomes a lot harder to justify in public if not to investors. But given the EV range you're talking of, we are not looking at a substantially higher valuation than that of listed players, going by their market cap/EV multiple. It will be interesting to see how this plays out.

Seetharaman G

Why India shouldn’t repeat IRCTC’s valuation misstep with LIC’s IPO

Thank you so much for this detailed explanation, Mithil. Ours were just rough estimates, where instead of just using AUM to arrive at the valuation, we decided to look at listed players' EV as well. It's far from perfect, I agree. But the numbers we have arrived are not very different from the valuation the government has hinted at–Rs 13-15 lakh cr. If the valuation is in the range you have given, I doubt the government would even go ahead with the IPO. I would love to discuss this further with you.

Seetharaman G

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