According to V. Jayasankar, managing director at Kotak Investment Banking, big internet initial public offerings (IPOs) will spur general dealmaking.
V. Jayasankar, managing director at Kotak Investment Banking said that upto 15-20 unicorns are likely to go public in next 12-24 months. He said India will have 10-plus internet decacorns by the end of 2025.
Jayasankar said in Kotak Investment Banking’s (KIB) annual media round-up that equity worth $10 billion is expected to be raised from the IPO market in the next 12-24 months. Over 10 internet decacorns will emerge by 2025-end and at least two to three large conglomerates will be established. He expects, the internet segment to see 20 to 30 mid-to-large size mergers and acquisitions in the next one-two years. This comes after increasing interest rates and the Israel-Hamas and Russia-Ukraine wars impacted the overall merger and acquisition activity. Funds being invested in Indian startups through the private equity and venture capital routes plummeted to about $8 billion in 2023, about a third of what came in during the previous year.
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