India records 22 IPOs worth over $2.5 bn

NEW DELHI: India witnessed 22 initial public offers worth over $2.5 billion in the first three months of 2021 amid “high momentum” in the country’s capital markets and the trend is likely to stay bullish in the current quarter also, according to a report.

Leading consultancy EY India’s IPO (Initial Public Offer) report released on Wednesday showed consumer products and retail, diversified industrial products, automotive and transportation were the most active sectors in terms of the number of IPOs in the 2021 Q1.

The IPOs include both in the main as well as SME (Small and Medium Enterprise) markets. “With a robust Q1, IPO market likely to stay bullish in Q2 2021,” it said, adding that India ranks ninth globally in terms of the number of IPOs Year-To-Date (YTD) 2021. There were 22 IPOs that mopped up $2,570.44 mn in the Q1 of this year, including five in the SME space.