IPO pipeline in India seen active in 2023 on smaller deals, shows data

Only 2 companies raised more than $500 mn via public offers in 2022

India is expected to see a steady flow of small-to-mid-sized deals next year as investors grow wary about large listings after the disastrous performance of some major technology initial public offerings.

Several of the country’s major startups shed billions of dollars in value since their listing as concerns over high valuations and rising interest rates globally dented demand for technology stocks. The selloff worsened as early investors pared stakes after the end of lock-up periods.

Investors will likely be more selective heading into 2023 as recession risks dim the prospects for growth stocks. Traders may instead turn their attention to