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Profit, governance will trump hype despite IPO rush, says NSE chief
MUMBAI: India’s capital markets will stay anchored to profitability, transparency and strong corporate governance, even as the country rides a wave of initial public offerings, Ashish Kumar Chauhan, ceo of the National Stock Exchange, said on Tuesday.
Speaking at IPO Baatcheet, a special programme hosted by the Startup Policy Forum, Chauhan said Indian public markets are fundamentally different from more risk-tolerant global peers, with both institutional and retail investors placing a premium on sustainable business models and investor protection. “Broadly speaking, India is about profitability, about transparency and about better corporate governance,” he said.
Trust, Chauhan argued, is the currency of public markets, and governance its backbone. With retail participation deepening rapidly, he warned that even small lapses can have outsized consequences. “It’s like a pond out of which we all drink. It’s easy to destroy that trust, but very difficult to build,” he said.
Addressing founders and promoters of listed companies, Chauhan urged restraint and responsibility in handling public capital. When faced with grey areas, he said, decisions should favour minority shareholders over insiders. “Even if something is legally allowed, don’t do it if morally it is not correct,” he said, pointing to the need to reduce information and power asymmetries.
He also pushed back against the idea of new-age IPOs as guaranteed wealth creators, cautioning that true value will only emerge over one-, two- and five-year horizons after listing. Public markets, he said, reward fundamentals and governance, not hype.
India’s growing retail base reflects rising confidence in markets, Chauhan noted. The NSE now has more than 12 crore unique investors, representing nearly 25 per cent of Indian households. But with participation comes responsibility. “Stock market is not a game,” he said, warning against greed-driven speculation and unrealistic expectations.
On derivatives, Chauhan delivered a blunt message to retail investors: stay away unless fully aware of the risks. “If you don’t know the risks associated, you should not come into the derivatives market,” he said, adding that such instruments are meant for trained participants with the capacity to absorb losses.
Chauhan also highlighted the exchange’s technological muscle, noting that NSE can process up to 60 lakh orders per second, operates at microsecond speeds moving towards nanoseconds, and has strengthened cyber resilience. He cited episodes where the exchange faced as many as 40 crore cyber attacks within 20 minutes.
The discussion was part of Startup Policy Forum’s effort to prepare new-age companies for life in public markets. Shweta Rajpal Kohli, ceo and president of SPF, said the forum is setting up a Centre for New-Age Public Companies to support founders before and after listing, offering institutional guidance and capacity building.
As IPOs multiply and retail money floods in, Chauhan’s message was unmistakable: in India’s markets, discipline beats dazzle — every time.
MAM
Dinshaw’s launches 3x chocolate cone with ‘Dildaari’ campaign
Vinod Kambli fronts summer push built around richer final bite.
MUMBAI: The sweetest part of an ice cream may no longer be the first lick, it is now the last word. Dinshaw’s is rewriting the rules of cone indulgence with its new ‘Dildaari’ campaign, built around a simple twist: three times more solid chocolate at the tip.
At the centre of the launch is a familiar consumer truth, the final bite of a cone is often the most anticipated. Dinshaw’s is leaning into that moment, turning it into the hero by amplifying the chocolate layer at the bottom, effectively repositioning the end of the cone as the highlight of the experience.
The campaign is fronted by former Indian cricketer Vinod Kambli, whose personal journey lends an emotional undertone to the storytelling. Built around the line “Jinko life mein thoda kam mila, unke liye thoda zyada”, the narrative blends nostalgia with generosity, framing the product upgrade as more than just a feature, it is a gesture.
Timed for peak summer and the ongoing cricket season, the campaign taps into moments of heightened consumption and sentiment, where small indulgences carry outsized emotional value.
The new range features nine flavours Badam Roasted, Butterscotch, Caramel Dolce, Choco Chip, Chocolate Brownie, Chocolate Ganache, Cookies n Cream, Mississippi Dark and Mocha Black and White each designed to complement the enhanced chocolate finish.
Conceptualised by Womb, the campaign pivots away from functional messaging to a more human insight: that sometimes, the smallest additions can make the biggest difference.
As brands continue to hunt for differentiation in a crowded category, Dinshaw’s bet is clear, if you cannot change the whole cone, make the last bite unforgettable.
