Skillmatics likely to go for India listing in 2-3 years: CEO Dhvanil Seth
Subscribe to enjoy similar stories. Grasper Global Pvt. Ltd, the parent of new-age educational toy and games maker Skillmatics, will look to list in India over the next 2-3 years, said co-founder and chief executive Dhvanil Seth in an interview with Mint. The Peak XV-backed company is also exploring newer categories such as gaming for adults and home and nursery, Seth added.
“We are getting closer to an IPO (initial public offering) event. The timeline is not defined yet. It would happen over the next two to three years.
We will look at the listing in India," Seth said. According to the co-founder, the company, which is profitable, does not need more capital to grow, and an IPO would be an ideal outcome. Founded in 2017, Skillmatics sells products in the US, UK, other European markets, and the Middle East.
“We are now the single-largest toy seller in the US market with more than 75% of our overall revenues coming from there," Seth, also a chartered accountant, said. He added the India business is currently growing at 155% annually and is likely to account for 30% of the overall revenues over the next five years. India currently contributes around 12-13% of the revenues.
“The India business is growing at a faster clip. We feel the growth momentum has begun to unlock here. We will continue to steadily grow in the US and are also exploring how to deepen our presence in the European markets," Seth said.
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