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India 'very favorable' for IPOs, Peak XV says, as economy and investor sentiment stay strong

India offers a "very favorable" environment for companies to launch initial public offerings, said Shailendra Singh, managing director at Peak XV Partners, formerly Sequoia Capital India & Southeast Asia.

"My general view is, especially in Indian public markets, the regulatory framework, what Securities and Exchange Board of India does, what Reserve Bank of India does, what other regulators do is actually really good," Singh told CNBC.

Singh, who has been at the VC firm for 18 years and led it since 2011, said India has created "a very favorable environment" for companies to list there. "It's both safe and dynamic in India for a young company to be able to go public."

There were 220 IPOs in India last year, up 48% from 2022, making it the second-largest IPO market in the world, according to an EY report. Though Mainland China took the top spot, the number of IPOs there slid 29% to 302.

The Indian IPO market is set to remain strong in 2024, buoyed by optimistic investor sentiment, a robust economy, and expectations of lower inflation and rate cuts, EY said.

"The Indian capital markets have evolved quite a bit. The markets have deepened in terms of liquidity. There's lots of interest in tech companies coming up because ... we are beginning to see a large number of companies with triple-digit million revenues and profits," Singh said.

India is emerging as a bright spot amid global macroeconomic uncertainty, mainly driven by optimism over the country's resilient economic fundamentals, KPMG said last month in its report "IPOs in India."

On why some Indian firms prefer to list locally, Singh said: "Founders are realizing that the U.S. markets may not always understand Indian companies."

As many as 20 companies including Zomato and