Indian unicorn Those collectively valued at around $300 billion are likely to line up for listing on stock exchanges, creating manifold wealth creation opportunities for investors and equity holders. Morgan Stanley Indiaof investment banking unit.

“These unicorns are likely to go public in the next three to five years, creating a robust pipeline to deliver healthy returns to investors,” said Kamal Yadav, co-head of investment banking in India at Morgan Stanley. Yadav, along with his colleague Samarth Jagnani, Head – Global Capital Markets, India – Morgan Stanley, was speaking at a session on the wave of tech IPOs at the India Internet Day event being organized by TiE Delhi.

Describing India as one of the most attractive markets for the global investor community, Yadav and Jagnani pointed out that frenzied trading is a sign of a mature market. “In the last 12 months, about $30 billion of investment has flowed in, which is about 1% of the current GDP (India’s GDP is $3 trillion). This is likely to grow manifold,” Jagnani said, adding, “India is an opportunity investors cannot ignore.”

India continues to be the best performing emerging market in both rupee and dollar terms. He added that IPOs are attracting a global pool of capital as the market matures and overall ‘less negative’

So far this year, companies like Zomato, CarTrade have generated $10 billion in IPO volume and if companies like Nykaa, Paytm and Policybazaar file their draft prospectus, this year is likely to close with another $20 billion in volume. Is. Market regulators, get on the floor, Jagnani says. Jagnani told ET, “The last time we saw such a huge deal volume was in 2007.”

Not only has the equity capital market deepened, the overall capital market, including debt issuance, has also witnessed a boom. “We will see it becoming more sophisticated with bonds, derivatives and other markets,” Jagnani said.

The market has not only matured with the bouquet of investment opportunities available, but the pool of capital has also expanded. “There are crossover tech funds, marquee global investors who are ready to tap India’s opportunity. Even domestic capital is competing to take a meaningful share of deals in early, growth and late stages,” Yadav said.

“Moreover, when these companies are listed, there will be a massive wealth creation opportunity for the employees of these companies, who will repatriate money to the market through entrepreneurship or investments in markets,” Jagnani said.