With fewer Chinese technology and South-East Asian IPOs in the market, bankers are pinning their hopes on Indian deals. The shares were sold at Rs487 but closed at Rs401.25 on Thursday. The last major technology IPO was SoftBank-backed online logistics company Delhivery's Rs52.4bn deal in May 2022, which has disappointed in the secondary market. Skin and baby care e-commerce company Honasa Consumer, which is backed by Bollywood actress Shilpa Shetty Kundra, drew subscription of 7.61 times for its Rs17bn (US$204m) IPO, raising hopes that it can reopen India's technology and e-commerce deal pipeline.Īfter a very active 2021, technology and e-commerce IPOs have generally stayed away from the Indian market.
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