Helios Capital India has no plans to go public at the moment, with chief executive officer Dinshaw Irani saying that the asset manager has repeatedly turned out approaches, as a result of continued interest in the business.
“Let me be very clear: no, nothing,” Irani said, when asked if Helios Capital had any initial public offering (IPO) plans in the pipeline. "Not a month goes by that either Sameer [Arora] or I are not contacted!" he said.
The comments come as the mutual fund industry continues to see continued growth, with a series of asset management companies (AMCs) going or planning to go public, cashing in on the positive primary market sentiment.
India has created a unique combination called the JAM Trinity: Jan Dhan, Aadhaar and Mobile, said Irani. "Jan Dhan has provided banking access to most Indians, Aadhaar has enabled digital identification, and mobile connectivity has brought millions online," he said. This has created enormous potential for digital businesses.
When evaluating these companies, Helios tends to focus on their long-term growth potential. "We don't get carried away by valuations or get bogged down by valuations rather," he added. Instead, the question is whether the growth prospects justify the price.