Five milestones that shaped India’s IPO journey4 min read 27 Jul 2021, 11:44 AM IST
By opening the door for India’s internet companies to list their shares, Zomato could well go down as a central event in India’s primary market history. Before Zomato, there were four other milestones that left an indelible impact on companies, investors, and the rules of the game
The spectacular stock market listing of food-delivery company Zomato is likely to pave the way for other large internet businesses to raise capital from the public. This marks the beginning of a new chapter in India’s primary market, which has had a chequered history ever since multinationals were forced to offer shares to the public under a new law and Reliance Industries first breathed life into it in the late 1970s. Since then, there have been four key events that have reshaped the primary capital markets. Each has widened the pool of companies, or expanded the community of investors, or served as a reference point for rule changes.
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