TIL Desk/Business/New Delhi/ Growth-oriented technology companies have raised Rs 15,000 crore through initial share sales in the last 18 months and IPOs worth around Rs 30,000 crore by such firms are in the pipeline, Sebi chairman Ajay Tyagi said on Thursday.
“Growing number of unicorns in the startup ecosystem is a testimony of the new age tech companies coming of age in our economy. These companies often follow a unique business model focusing more on rapid growth than immediate profitability,” Tyagi said at an event organised by industry body CII.
During the last 18 months, growth-oriented technology companies have raised a sum of around Rs 15,000 crore through IPOs (Initial Public Offerings).Their filings with Sebi at present show a pipeline of around Rs 30,000 crore, he added.
According to him, recent filings and successful public offerings of such companies is an important landmark in the further evolution of the equity markets. The first startup to hit the market was food delivery platform Zomato.
Following the successful listing of Zomato, many technology-driven companies filed draft papers with the Securities and Exchange Board of India (Sebi) to float their IPOs. These included Paytm, Policybazzar, Mobikwik and Nykaa. Tyagi said there has been a recent boom in fund raising through IPOs.
