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IPOs in pandemic times are delivering the best listing gains

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₹9,375 crore initial public offering The bumper stock market debut of Zomato Ltd capped a year of strong listings undeterred by the devastating pandemic that crimped economic activity and left many jobless.

Shares of Zomato, the first major new-age Indian technology firm, made a stellar market debut on Friday. This followed the more than 40 times subscription of the company’s ₹9,375 crore initial public offering.

As many as 10 companies saw investor wealth double since their listings in the past year. A gush of global liquidity and a fast-expanding base of retail investors have resulted in IPOs in the past 12 months dominate the list of India’s most successful public listings in 15 years.

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