Fundraising Via Initial Public Offers At 13-Year Peak

Companies have raised $2.2 billion through initial public offerings (IPOs) so far thisyear, the highest amount since 2008, Refinitiv data showed.

Fundraising via IPOs is at a 13-year high as a flood of foreign money and unprecedented interest from mom-and-pop investors spur more listings, making India one of the hottest IPO markets in 2021. Companies have raised $2.2 billion through initial public offerings (IPOs) so far this year, the highest amount since 2008, Refinitiv data showed. That follows $9.2 billion last year, the third-biggest behind the United States and China, thanks to a flurry of listings in late 2020.  Heavy foreign investor flows into shares, massive federal spending and strong corporate earnings have driven Indian markets to record highs this year, encouraging more firms to tap public markets. "If you want to be in Asia, but don't want all your eggs in one basket, the China basket, India is the easiest option to go for. It's large, liquid, and got a low correlation with China," said Herald van der Linde, head of Asia equity strategy at HSBC.