Indian Startups' IPOs to Surge as Market Matures

Jefferies betting big on corporates, private equity, equity capital markets

- Sneha Shah, Priyamvada C & Mansi Verma

For most companies in the new-economy segment, public listing is likely to be the end game as mergers and consolidation may not play out, Ashish Jhaveri, managing director and head of India investment banking at Jefferies India, said. The pure-play advisory firm expects many new-age companies to list in India over the next few years.

Given that most of these companies have fragmented shareholding where venture capital, private equity investors, or even cross-over funds are part of the capitalization table, Jhaveri feels the exit timelines differ and are better suited for a public market exit. This has also significantly increased the block deal activity in the market since most investors see that as a means of exit.