Tech companies likely to lead primary market revival in India: HSBC

Thus far in calendar year 2022, Indian companies have raised over 40,000 crore from the primary markets via the IPO route, data from PRIME Database showed.

Technology-related companies are likely to lead the revival of primary markets in India, according to a recent report by HSBC, which expects ‘a flurry of initial public offerings (IPOs)’ in the last four months of calendar year 2022 (CY22).

“IPO activity has slowed across exchanges, except for mainland China and Korea. From a historical perspective – in which the second half of the year accounts for 60 per cent of all IPO money raised – we could see IPO activity catch up later in the year. After an issue size of $70 billion in the first half of 2022 (H1-22),