2021 may turn to be India’s year of IPO

The year 2021 could turn out to be India’s time of IPO with the domestic unicorns through their public issues setting “domestic stock markets on fire and worldwide investors in a frenzy”, a RBI article said on Tuesday.

The effective Initial Public Offerings (IPOs) by new age organizations in the new months are a reflection of bullishness about Indian technology, it said.

“Growth impulse is igniting financial markets. 2021 could well turn out to be India’s time of the IPO. Debut offerings by Indian unicorns unlisted start-ups started off by a food delivery application’s heavenly IPO that was oversubscribed multiple times, have set domestic stock markets on fire and worldwide investors in a frenzy,” the national bank said in an article on the ‘State of Economy’.

The article has been composed by a team lead by RBI deputy governor Michael Debabrata Patra. The central bank said views expressed in the article are those of the authors and don’t necessarily represent the views on the Reserve Bank.

The RBI article was referring to the IPO of Zomato which got oversubscribed multiple times.