This is The Biggest Week in Over a Decade for India IPO Debuts
(Bloomberg) -- Investors looking at newly listed shares in India will be busy this week.
The third week of November concentrates the first day of trade for initial public offerings that together raised about $3.3 billion, the biggest weekly amount for the local market in 11 years. That includes Paytm’s debut on Thursday following its $2.4 billion offering, the country’s biggest on record.
A rallying stock market helped spur multiple technology unicorns to list in India since January, with proceeds raised in new-share sales at over $12 billion, already a record for a full year. Companies that listed in the country in 2021 rose by an average of 20% in the first session, Bloomberg data show.
PB Fintech Ltd., the operator of online insurance marketplace Policybazaar, kicks off the line-up on Monday after raising $761 million. Other debuts today are S.J.S. Enterprises Ltd. ($107 million) and Sigachi Industries Ltd. ($17 million). Then the big one, Paytm, begins trading on Thursday.
- Paytm IPO, India’s Biggest Sale, Fully Sold on Final Day
- Valuation Surge for Indian Startups to Stay, Paytm Founder Says
- India Beauty Site Nykaa Soars 89% in Trading After IPO (1)
- Online Auto Marketplace Droom Files for Up to $403M India IPO
- Global Funds Come to Anchor Big Month for Indian IPOs: ECM Watch
©2021 Bloomberg L.P.