Moneycontrol
HomeNewsBusinessMarkets in new era with domestic listing of tech startups: SEBI chairman Ajay Tyagi
Trending Topics

Markets in new era with domestic listing of tech startups: SEBI chairman Ajay Tyagi

The success of IPOs from new-age tech companies will attract more funds and help create a new ecosystem of entrepreneurs and investors, SEBI chairman Ajay Tyagi said

July 23, 2021 / 10:00 IST
Story continues below Advertisement
Ajay Tyagi, chairman of SEBI (Image: Reuters)

The Indian capital markets are entering a new era with several tech companies choosing to list domestically, the head of the regulatory body said.

Recent filings and public issues show the maturity of the Indian markets in accepting the business models of new-age tech companies, which cannot be valued through the conventional metrics of profitability, Ajay Tyagi, chairman of the Securities and Exchange Board of India (SEBI), said at a conference.

Story continues below Advertisement

The success stories of the initial public offerings from these new-age tech companies will only attract more funds in the domestic market and help create a new ecosystem of entrepreneurs and investors, he said.

The maturity of India’s IPO market was reflected in the fact that companies raised about Rs 4,600 crore through initial share sales in FY21, more than double the amount of Rs 2,140 crore raised in FY20, Tyagi said. Companies have already raised Rs 1,200 crore through IPOs as of June end in FY22.