SECRET SUPERSTARS
THE YEAR 2021 was a breakout one for start-ups. The long-awaited market debuts of Paytm-parent One 97 Communications, food delivery company Zomato, and beauty products e-tailer Nykaa captured the imagination and headlines alike.
But savvy investors were eyeing up the initial public offerings (IPOs) of a very different set of firms, far from the spotlight and headlines. These included the likes of Paras Defence & Space Technologies, Latent View Analytics, Tega Industries, MTAR Technologies, Tatva Chintan Pharma Chem and C.E. Info Systems.
Indeed, the IPOs of these relatively lesser-known—or unknown, in some cases—firms were the gems of 2021 in terms of investor response and market returns. Eclipsing even their better-known fellow debutants.
Take, for instance, Paras Defence & Space. The Mumbai-based defence engineering firm’s IPO was subscribed nearly 214 times, the most among all issues last year. Similarly, the IPO of Latent View
