“IPO = Infinite Paisa Online”: Ashneer Grover’s viral skit on IPO mania sparks debate on growth vs profit

Ashneer Grover takes aim at startup IPO craze by “loser tech founders” chasing sky-high valuations; Social media is hailing it as a reality check on India’s startup ecosystem

Entrepreneur and former Managing Director of BharatPe Ashneer Grover has sparked the conversation once again – this time through humour. In a skit that went viral on Instagram, Grover poked fun at India’s new-age startup culture, where “valuation often trumps value” and where founders of loss-making companies still chase blockbuster IPOs.

The clip, originally posted by Sanyam Sharma with the sarcastic caption “IPO = Infinite Paisa Online,” features Grover playing an investment banker advising two founders — one leading a profitable legacy company and the other, a loss-making tech startup.

“Founders’ Story”

In the sitcom, actors Sanyam Sharma and Rajesh Yadav play the two founders who vie for Grover’s attention. When the profitable businessman says he runs a 30-year-old enterprise that generates revenues of Rs 1,000 crore and profits of Rs 400 crore, Grover seems unconcerned. Instead, he praises the tech founder – whose company generates revenue of Rs 100 crore but has losses of Rs 700 crore.

“But we have a lot of technology,” the tech founder says proudly, prompting Grover to reward him with an inflated valuation: “Make it six penthouses worth Rs 6 lakh crore. We’ll turn this into a Rs 7,000-crore IPO… A valuation of Rs 70,000 crore – minus a 100 multiple. That’s conservative!”

When the old businessman protests that his lucrative business is worth more, Grover bluntly tells him to “go away and never show his face again.”

“IPO = Infinite Online Pisa”

The final point arrives when the tech founder confidently expands the IPO as “Infinite Paisa Online,” eliciting laughter from viewers but also highlighting the misplaced obsession with valuation over fundamentals.

The disclaimer accompanying this post adds another sarcastic touch: “No IPOs were canceled in the making of this reel. Valuation is a function of your own perspective… Read the offering document carefully before investing.”

The skit struck a chord in India’s startup circles, sparking amusement and contemplation.

“Very true and painfully relatable,” one founder commented, calling it a reflection of how the ecosystem “glorifies losses in the name of growth while ignoring sustainability.”

Another viewer described it as a “direct roast of Peyush Bansal’s Lenskart”, while others praised the realism behind the humour: “The message is clearer than the humour”.

“Every market goes through this phase, where valuations are for the future, and people see data as the future. But at the same time, founders must remember – profitability is the only key to success. When the storytelling ends, the real work begins,” added one business leader.

Known for his outspoken personality and straightforward approach to startup culture, Grover’s latest satire reflects his long-standing criticism of India’s “assessment first” mentality. Although the story is laced with humor, its message – that sustainable growth must withstand the hype of speculation – clearly resonates with founders, investors, and the broader business community alike.