“Recent filings and public offerings reflect the maturity of our market to accept the business model of new age tech companies, which aren’t amenable to valuation through conventional metrics of profitability,” Tyagi said.
India’s IPO market has entered a new era with several technology startups opting to list their securities in the secondary market. Last week, online food aggregator Zomato successfully raised over $1 billion from investors after receiving bids for over $45 billion.
In the coming months several marquee Indian technology startups are set to hit the primary market including Paytm, PolicyBazaar, Mobikwiq and Nykaa.
“Successful IPOs of such companies are likely to attract more funds in domestic markets; thus creating a new ecosystem of entrepreneurs and investors,” Tyagi said.
So far in 2021-22, Indian companies have raised over Rs. 11,000 crore by offering their shares in the primary market to investors.
