What is driving IPO rush in Indian equity market?

The Indian equity market is witnessing a tidal wave of initial public offerings (IPOs), with companies eager to ride the crest of investor optimism and a robust economy. The third quarter of the financial year 2023 alone has seen over 34 mainboard IPOs, excluding smaller SME listings, according to data released by EY Global IPO Trends Report (Q3 2023). This surge is fuelled by a blend of tech behemoths, established giants, and promising start-ups.