IPO Fundraising More Than Halves From Record High In 2021-22
NDTV
According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in FY22.
The total amount raised through initial public offerings (IPOs) more than halved to Rs 52,116 crore in Financial Year 2022-23 (FY23) from an all-time high collection of Rs 1,11,547 crore in the previous fiscal, according to an analysis.
According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in Financial Year 2021-22 (FY22).
Pranav Haldea, managing director of Prime Database Group, said Rs 20,557 crore which is 39 per cent of the total amount raised in FY23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore in the year. Yet, FY23 is still the third highest in terms of IPO fund-raise, he said.
Overall public equity fundraising also dropped by 56 per cent to Rs 76,076 crore in the reporting year from Rs 1,73,728 crore in FY22.
