Dear Pradhan Mantri ji,
Tomorrow, my company’s IPO will open for subscription on the BSE SME Exchange.
Over the last 48 hours, I have received countless calls from my well-wishers asking me to postpone the IPO of IRIS, the company of which I am the Founder and CEO. They tell me that the economy is headed south, they point to the controversy over demonetisation. They have told me that GST is a disaster.
I have been told that I am foolish, even foolhardy. I have been told that I should not be stubborn but withdraw the issue. But I want you to know that I am going to do nothing of that kind. My issue will open tomorrow, it will remain open as long as it needs to and then close after the money that I am seeking to raise has been raised.
So when I tell them that I am in this for the long run, they don’t get it. When I tell them that whatever you are doing on the economic front is rooted in good intentions, they don’t get it. When I point to the adage that there can be no gain without pain, they don’t get it.
I can relate to the pain that comes with any transition. Over the last four years, my company has endured much pain. But we have emerged stronger. Four years ago we were a software services firm, today we are a software products company. The transition took us through two years of losses. We went through hell, many are those who sought to write us off. But at the end of it all, we have come out of it stronger.
Your initiatives have caused pain, of this there is no doubt. But just like IRIS has emerged stronger for the pain that we went through, so too will India come out of it emerge stronger, of this I am confident.
I am confident not because I am a blind follower of yours. Far from it. I am confident because GST is path-breaking though the birth pangs have been painful to endure. Your emphasis on laying the foundation of a digital economy can help combat corruption in a big way. Corruption remains, Pradhan mantriji, but as I keep telling people around me, old habits die hard.
The darkest hour is always before dawn, just like the darkest hour for a caterpillar is when it goes blind before it transforms into a beautiful butterfly. All changes come with pain especially when it entails an overhaul this comprehensive.
So tomorrow, when my IPO opens, I want you to know that it is my vote of confidence. Because I honestly believe that when people act in good intention, they eventually get it right. I hope you will get it right. For the country’s sake and mine.
Thank you for your attention.
P.S, Oh! and just in case you plan to subscribe to my company’s IPO, please do read the offer document for the risk factors before you do so. Not just because SEBI would want it no other way, but because you will see that I have not listed you down as a risk factor.
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