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    System of a down round: valuation markdowns hit Indian startups; to affect fundraising, IPO plans

    Synopsis

    Some of India’s biggest startup stars have seen their valuations slashed, and fallout is likely to impact fundraising, public offerings and employee morale in the entire ecosystem

    Everyone saw it coming. The employees, the investors, and perhaps even the founders.“All I have to say is picture abhi baki hai,” says Abhay Pandey, the founding partner of investment firm A91 Partners.Pandey is referring to recent valuation markdowns that have hit Indian startups. In the last few weeks, international fund managers have slashed valuations of unicorns and decacorns – privately held companies valued at $1 billion and $10 billion
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    The Economic Times