Private equity not be-all of IPOs as non-PE backed companies deliver better long-term returns: IIFL Securities report

Over the past five years, financial services and fintech companies have driven the largest IPO wealth creation, contributing $140 billion to market capitalization. Key players include LIC, SBI Cards, IREDA, and PB Fintech. Other standout sectors were industrials ($75 billion), IT ($67 billion), and consumer discretionary ($67 billion).