Bulls Taking over the Indian Stock Market
2 min read
Indian Stock market witnessed 22 IPOs in the first three months of 2021 worth $ 2.5 billion! These IPOs were from varied industries like consumer products, retail industry, automotive, and transportation. It also included IPOs of 5 SMEs. Though the number of IPOs of SME has come down this quarter compared to Q1 of 2020 when 11 SMEs were listed and Q4 of 2020 when 9 SMEs got listed.
The biggest IPO of all was of Indian Railway Finance Corp worth $ 634 million, comprising about 25% of the overall IPOs worth in Q1. As per a report by EY, 20 companies are in pipeline of IPO and have already filed their Draft Red Herring Prospectus. Looking at the rising IPOs India’s second-largest private lender ICICI is hiring more people in both investment banking and institutional equity which currently comprises 130 bankers.
We had 43 IPOs in 2020 worth $ 4.09 billion in India. ICICI expects the IPOs of 2021 to surpass the 2020 numbers with companies like Zomato, Policy Bazaar, and Nykaa inline. Indian stock market might see 6 new IPOs in April 2021 including companies like Lodha Developers now known as Macrotech Developers and Aadhar Housing Finance.
Q1 2021 saw the global IPO worth $ 105.6 billion in proceeds with 430 deals! The EY report also noted the reasons of caution with the rising cases of COVID 19 and India entering the second wave.
With 22 IPOs in the first quarter, worth $ 2.5 billion, will surpass the numbers of 2020?
