More consumer-centric companies are looking to capitalize on India's booming stock market and strong economic growth, by going public.
"After a decade, India's growth story is now likely to be driven by private consumption.
With a better macro outlook, the risk appetite for investors for business to consumer companies have gone higher," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India.
It may have started with large corporations like Reliance and Adani , but the positive macro story is driving more business to consumer companies to list," Singh told CNBC in an interview.
India had 238 listings in 2023, reaching a nine-year high with 614 billion Indian rupees ($7.35 billion), according to FactSet data.
Persons:
Ola, Atul Singh, Singh
Organizations:
National Stock Exchange, BMI, LGT Wealth, Reliance, CNBC, Transportation, Hyundai Motor India, Insurance, Hyundai, Ola Electric
Locations:
Mumbai, India