Expect 12 more Indian startups to become Unicorns, several IPO in 2021: NASSCOM
As we emerge from 2020 that was no less than a nightmare, 2021 appears to be a great year in terms of economic growth and the Indian technology startup ecosystem. The Indian tech-startups are witnessing constant growth, courtesy of the rapid digitalization and innovative technology adoption.
According to a joint report by NASSCOM & global management and strategy consultancy Zinnov, ‘India will have at least 12 more unicorns in 2021 as the Indian tech startup ecosystem will continue to grow on the back of new technologies.
NASSCOM President Debjani Ghosh said in an interview, “Tech startups have done a tremendous job of pivoting their businesses. I honestly believe what happened in 2020 has strengthened the foundation for stronger and continued growth. Remote work turned to strength and advantage. Startups are now thinking 'build local but go global.'
“In terms of policy measures, we need continued focus on ease of doing business for startups and think about how we can have more domestic capital, especially when it comes to deep tech”, she further added.
The NASSCOM report also stated that the addition of 12 more unicorns in 2021 will take the total count of Indian unicorns to 50. In 2020, the coveted unicorn club was joined by 12 startups including Unacademy, Razorpay, PineLabs, Nykaa, FirstCry, Postman, and Zerodha.
Paytm with its valuation at $16 billion, has become India`s most valuable unicorn, followed by the Bengaluru-based ed-tech startup BYJU`s.
Adding further, NASSCOM also said 2021 will witness the startup IPOs that will strengthen in 2021-22, with several profitable firms such as Druva, Freshworks, Delhivery, and PolicyBazaar planning to announce their list of shares.
In 2020, IPOs raised around Rs. 30,000 crore in the capital, while in 2019 around Rs 12,362 crore was raised. The experts, however, say 2021 will match those numbers.
InMobi, which is the first Indian startup to achieve the Unicorn status is planning to issue guidance on its IPO in a few quarters. According to Naveen Tewari, Founder & CEO of InMobi, “the startup is certainly excited about the possibility of an IPO (Initial public offering), and is evaluating it very strongly”.
Earlier this week, Mint reported that the omnichannel beauty and lifestyle retailer Nykaa, is planning an IPO by the end of 2021, or early 2022. Founded eight years ago, Nykaa will be the first online retailer to launch an IPO in India.
It has allotted shares worth Rs 64.3 crores under ESOP and looking to join other e-commerce giants such as Zomato, Flipkart, Pepperfry, who are also preparing for the public markets.
2021 will be a year full of opportunities if you are thinking about investing in IPOs this year. Other companies like LIC, Grofers, Zomato, and Ola too might join others, this year.
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