From IPOs to Valuations: Nithin Kamath explains how tax structure drives India’s unprofitable startup boom
Published on: Nov. 3, 2025, 6:59 p.m. | Source: Business Today
Kamath argued that this “tax arbitrage game” is often overlooked. Many VC-backed startups that went public in recent years, he said, continue to show little or no profit partly due to this structure.
