IPOs soak liquidity before an imminent sell-off
The rush for IPOs in January in the beginning of 2021 is being linked to the momentum in the market which is a follow through from 2020, which saw an unstoppable bull run in the stock market breaking all the records. According to a report by IDFC Mutual Fund, in March last year, market cap to GDP hits hit its lowest level since the 2008-09 GFC.