In the world of IPO, Class of 2021 breaks all records

In India, the IPO boom was largely fuelled by the need for companies to tap the market for funds to push growth despite the Covid challenges, and the investor appetite for new equity investment options. Illustration: Immayabharathi K

The world at large would term 2020 the Year of the Pandemic, and 2021 the Year of the Vaccine, but Wall Street would fondly recall this year for its IPO stardust.

As of early December 2021, over 950 companies listed their shares in the US to raise over $301 billion. The proceeds doubled from the $146 billion raised by 399 IPOs last year. With the global adoption of Web 3.0, the US IPO frenzy surpassed the dotcom boom of 1996, when 848 companies raised $79 billion and set a benchmark for the decades to come.

India has run on a parallel track in the IPO race. In one of its best years for IPOs, Dalal......