71 IPOs of Rs 1 lakh crore are waiting to hit
After 14 IPOs in the first half of the current financial year, 71 new IPOs are ready to hit Capital Market. Presently, 71 companies proposing to raise Rs 1,05,000 crore have Sebi approval. Another 43 companies looking to raise about Rs 70,000 crore are awaiting approval from the market regulator.
According to the data available on Prime Database, Archean Chemical, Aadhar Housing Finance, Bharat FIH, Capital Small Finance Bank, Fab India, CMR Green Technologies, TVS Supply Chain Solutions, and VLCC will be among the other IPOs. Emcure Pharmaceuticals, Navi Technologies, Bikaji Food, and Mobikwik are among the prominent names set to hit the primary market.API Holdings, Wellness Forever, TBO Tek, Sanathan Textiles, Puranik Builders, Penna Cement Industries, Keventer Agro and Asianet Satellite Communications are also on the list.
However, Pranav Haldea said IPO activity would be impacted by the volatility in the secondary market, mainly because of recessionary fears and rising interest rates. IPO is a once-in-a-lifetime event for a company, and as seen several times in the past, companies would prefer to let their approval lapse rather than launch their IPO in a volatile market.
According to Prime Database, in the first half of the financial year 2022-23, 14 Indian corporates raised Rs 35,456 crore via the IPO route, The amount raised was 32 per cent lower than the Rs 51,979 crore raised through 25 IPOs, in the corresponding period of 2021-22.