63 IPOs Raise Record Rs 1.18 Lakh Crore From Markets In 2021: Report

The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021.

The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of Rs 68,827 crore in 2017, according to a report.

Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year. Another highlight was only 51 per cent or Rs 1,03,621 crore of the total Rs 2,02,009 crore was fresh capital raising and the remaining Rs 98,388 crore were offers for sale.

Overall, public equity fundraising crossed the Rs 2 lakh crore-mark at Rs 2,02,009 crore in 2021 so far, which is higher than the previous high of Rs 1,76,914 crore in 2020, according to the report by Prime Database.

Haldea said the largest main-board IPOs were the One97 Communications (Paytm) issue of Rs 18,300 crore, followed by delivery app Zomato at over Rs 9,300 crore. The average issue size was a high Rs 1,884 crore this year.