New Delhi, June 13 -- Founder and Non-Executive Director of Kotak Mahindra Bank, Uday Kotak, on Saturday described the blockbuster initial public offering (IPO) of SpaceX as a "true test for capitalism," saying the company's valuation defies conventional metrics and reflects a massive bet on humanity's future.

Commenting on the listing of the Elon Musk-led company, Kotak said in a post on X, "SpaceX IPO, listing, and beyond, is a true test for capitalism."

He noted that the company's market value cannot be assessed through traditional frameworks, stating that "the valuation does not fit any traditional matrix and is a huge bet on the future course of planet earth."

Kotak said the success or failure of such a valuation would ultimately ...