Raining IPOs: Industry participants say new filings could cross 100 in 2021

Any company launching an IPO takes valuation cues from the secondary market, which bankers say are "encouraging"

It’s raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years.

Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.

“Both last year and this year have been good in