'New-age tech firms to lead $13 bn IPO boom'

Kotak Investment expects a significant uptick in average deal size in 2024:

- Sneha Shah

The Indian markets are poised to witness initial public offerings (IPOS) worth $12-13 billion in 2024, V. Jayasankar, managing director and a board member at Kotak Investment Banking, said.

IPOS of new-age tech companies, such as Ola Electric, FirstCry and Swiggy, are likely to fuel a significant part of this activity, according to the company.

During its annual media round-up, the firm's investment banking team said it was expecting equity capital market activity to double from 2023. "With inflows from domestic institutional investors and foreign institutional investors put together we expect more than $50 billion worth of equity capital market demand in 2024." In 2023, DIIs contributed $22.3 billion, while FIIs added $20.5 billion, resulting in a combined inflow of around $42.8 billion.