The future of any unlisted stock is dependent upon multiple factors which are internal and external to the unlisted companies. The market for unlisted is at a nascent stage and is developing rapidly with an increasing number of unicorns coming up globally and in India. 

India’s IPO market has been buzzing for the past few months of 2020. The primary market has a line-up of over 50 issues, with many still filing red herring prospectus with SEBI in preparation for market debut. HDB Financial, Studds, Kurlon and HDFC Securities are being tipped as potential candidates to hit the market soon and the investors in these companies may encash huge return on listing if the subscription continues to be in same momentum as those of 2020. 

The companies which have surged recently after listing include Bector Foods, Happiest Minds, BVG India, Utkarsh Small Finance Bank, Digvijay Finlease, Suryoday Small Finance Bank, Deepak Industries, etc.

There has been a surge in the valuation of many start-up companies as well on account of uptick in demand of companies driving growth through digital economy post covid-19.