Boosted by buying sentiments by investors, India witnessed companies mopping up a whopping USD 9.7 billion through Public offering (IPO) in the first nine months of 2021, the highest amount for the nine-month period in two decades, says a report.

As many as 72 IPOs hit the stock market during the January-September period this year in India and strong sentiments were visible in the global markets as well, according to leading consultancy EY. EY, in its latest report, said the global IPO market continued to boom through Q3 2021 resulting in the most active third quarter by deal numbers and proceeds in the last 20 years. "In India, total proceeds in YTD 2021 are USD 9.7 billion via 72 IPOs also being the highest first nine months proceeds in the last 20 years," it said. For the nine-month period, India saw the highest number of 130 IPOs in 2018.

In the three months ended September 2021 alone, India witnessed 31 IPOs that garnered a total of little over USD 5 billion. During this period, there were eight IPOs from diversified industrial products and five in the technology segment. "These sectors were also the largestinterms of issue proceeds in Q3 2021. The three largest IPOs in terms of proceeds were Zomato, Nuvoco Vistas Corp, and Chemplast Sanmar," the report said. Prashant Singhal, Emerging Markets, Technology, Media, Telecom (TMT) Leader at EY, said the Indian IPO market has been on a bullish run and has witnessed one of the most active quarters since the fourth quarter of 2017.

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