UBS Expects Record IPO Year for India Despite Covid-19 Crisis
- Investment bank head sees total more than double last year’s
- Up to five tech listings in second half, more expected in 2022
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India’s sharp surge in Covid-19 cases will not prevent the country’s markets from setting a record for initial public offerings in 2021, as a cohort of technology companies make their much-anticipated debuts later in the year, according to UBS Group AG.
Last year companies amassed $4.6 billion from IPOs, according to data compiled by Bloomberg, and Anuj Kapoor, head of investment banking at UBS India, believes the figure will be easily eclipsed.