LIC IPO will test India's market depth, says Moelis India's Manisha Girotra

"The LIC IPO will suck liquidity from the market. That's another reason that you will see the markets getting volatile," said Girotra.

The meltdown in new-age tech stocks will bring more rationality, says Manisha Girotra, CEO of Moelis India, an independent investment bank that specialises in fund raising from the private market. In an interview with Samie Modak, Girotra says the LIC IPO will demonstrate that the Indian markets have the scale and the size. Edited excerpts:

Last year we saw record fundraising via IPOs. What are your thoughts on the year gone by?

A whole new sector was created in 2021. That was the most exciting thing. The US and China have robust private and public markets for tech. In India,