India is seeing a surge in startups planning to go public. Citing data from Prime Database, Nikkei Asia reports that in the first eight months of this year, 20 companies have raised about Rs.433 billion (US$5.27 billion) through IPOs in India so far. For comparison, 63 companies raised Rs.1.18 trillion throughout 2021.
Insurance company Digit and home healthcare company Portea are among the high-profile startups that recently submitted offer documents. Financial services company Navi also received regulatory approval for an IPO.
Also, some companies are relaunching IPO plans after Russia’s invasion of Ukraine put their IPO plans on hold. SoftBank-backed hotel startup Oyo and GIC-backed travel company Ixigo both submitted revised bid documents to Indian regulators earlier this month. In addition, Nikkei Asia reports that major Indian startups such as grocer Swiggy, personal care startup Mamaearth, furniture retailer Pepperfry and baby products retailer FirstCry have started preparations for IPOs.
This comes at a time when the country’s stock markets have outperformed several of their overseas peers. India’s Sensex benchmark stock index is up 8% since July. Meanwhile, Japan’s Nikkei 225 rose 2.45% over the same period, Hong Kong’s Hang Seng Index fell 18% and the Shanghai Composite Index fell 8.6%.
Investors interested in the world’s fifth-largest economy might want to consider EMQQ Global’s Indian Internet & E-Commerce ETF (NYSE Arca: INQQ). INQQ was launched to benefit from India’s rapidly growing digital and e-commerce sector and aims to deliver investment results that generally match the price and return performance of the India Internet and Ecommerce Index before fees and expenses.
In a press release announcing the launch of INQQ, EMQQ Global Founder and CIO Kevin T. Carter said, “India represents an exceptional investment opportunity and is a central part of the growth story of e-commerce and digitalization in emerging and frontier markets outside of China,” before adding, “India is the third largest economy and the fastest growing major economy in the world and we are pleased to offer investors the first targeted approach to capitalize on India’s fast-paced e-commerce and digitization history.” .”
INQQ has an expense ratio of 0.86%.
For more news, information and strategy, visit the Emerging Markets Channel.
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