Fed tightening may delay listing of unicorns in India: Chris Wood

The Federal Reserve tightening its monetary policy will not end the much anticipated listings of Indian unicorns but only delay it, said Christopher Wood, head of global equity strategy at US-based investment bank Jefferies.

The arrival of a growing number of listed digital plays is clearly coming, which will add another dimension to the stock market, said Wood.

"Meanwhile, as with China in the early 2000s, a listing of prominent state-owned enterprises can lift significantly the overall market capitalisation of the whole stock market which is currently $3.5 trillion," Wood added.

2021 was the best year for companies that listed after their initial public offerings in the midst of a pandemic that crimped economic activity and left many jobless. About 64 companies came out with IPOs totaling Rs 1.2 lakh crore in 2021, while most of them doubled on listing day from their issue price.