Even as the listing rush made a late start in 2023, new-age tech companies, considered to be the darling of investors, went missing from fundraising in the capital markets. What went wrong?
Investors warmed up to Indian primary markets fundraising only in the second half of 2023 as equities remained veiled under uncertainties, mostly due to geo-political crisis. Even as the IPO rush made a late start in 2023, ‘new age tech companies’ (NATC), the darling of investors, went missing from fund raising activities in the capital markets. Valuation concerns made bankers and promoters nervous about such companies going public as investors scouted for profitable companies with low cash burns and stable margins.