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India’s stock markets to have unicorn listings

Venture capitalist and former Infosys Ltd. official Mohandas Pai, opined that India’s stock markets are set for a wave of unicorn listings. These 10 to 15 internet and tech companies are valued at US$ 300 million to US$ 10 billion. Byju, Swiggy, Zomato, PhonePe, Myntra are some such companies that he has great hopes from. Pai was also of the opinion that liquidity and valuations shouldn’t be concerns for companies seeking to list. 

According to data compiled by Bloomberg, Foreign investors have pumped about $13 billion into Indian stocks this year. This is the biggest annual inflow since Prime Minister Shri Narendra Modi was elected in 2014.