MUMBAI: Newly listed Indian stocks are beating the benchmark by the most in seven years, helped by a record pace of initial public offerings (IPOs) that some see as the start of a multi-year expansion for the country’s US$3.2 trillion (RM13.56 trillion) stock market. Most notable has been food-delivery app Zomato Ltd, the nation’s first “unicorn,” which has climbed 77% since its debut last month. “Even if 20%-25% of these unicorns take the listing route, we could easily add anywhere between US$400bil (RM1.7 trillion) and US$500bil (RM2.12 trillion) of market capitalisation,” he said in emailed comments. India is experiencing a boom in tech startups that cater to the nation’s still fledgling Internet market, and regulators have recently made it more appealing for them to list shares at home. “The simplification of the controlling structure will encourage many startups and new age companies to initiate public offering proceedings,” said Agrawal.
