India witnesses 19 IPO worth USD 1.84 billion in Q4
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New Delhi: Reflecting strong momentum, India witnessed 19 initial public offers worth USD 1.84 billion in the fourth quarter of 2020 and market sentiment remains positive in what could be a stellar 2021, according to a report. Leading consultancy EY's India IPO Trends Report: Q4 2020 showed that there were a total of 10 Initial Public Offers (IPOs) in the main market and 9 in the SME (Small and Medium Enterprises) segment during this period.
In the latest December quarter, there were 19 IPOs valued at USD 1.836 billion and the largest was that of Gland Pharma with an issue size of USD 869 million. There were just 11 IPOs in the year-ago period.
India ranks ninth globally in terms of the number of IPOs in 2020 with 43 IPOs raising USD 4.09 billion, as per the report.
"There is a strong momentum in the IPO markets, and we are seeing an increased interest from companies across sectors looking to raise capital in the near term. Additionally, companies are keenly awaiting guidelines for direct listing in overseas markets. The market sentiment remains positive for what could be a stellar 2021," Sandip Khetan, Partner and National Leader, Financial Accounting Advisory Services (FAAS) at EY India, said.
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