India has continued to upgrade its health care infrastructure following the devastating second wave of coronavirus infections, which appears to be under control. According to our estimates, by the fourth quarter this year, more than half of the population over 15 years of age would have received at least one dose of COVID-19 vaccine if the current pace of vaccination is maintained.
Pandemic aside, the country’s entrepreneurial culture and vast pool of technology talent has given rise to a host of domestic competitors, some with significant private equity funding.
Now, as companies extend their scale, many are lining up in the initial public offering queue. If successful, these deals could help support the digital ecosystem and diversify India’s equity markets. New public companies are part of the further diversification of India’s equity market away from state-owned enterprises to private-sector banks, technology companies and consumer stocks.
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