IPO market set for strong FY24, 54 firms to raise 76,189 cr
Market News: 54 companies are expected to raise a whopping ₹76,189 crore in the upcoming financial year, FY24, according to Prime Database. These companies already hold approval from SEBI, and another 19 firms are waiting for the market regulator's approval to raise ₹32,940 crore. Out of these, 3 companies are NATCs, which are expected to raise approximately ₹8,100 crore. However, due to the weakness prevailing in
the secondary market caused by a combination of domestic and foreign factors, IPO activity is likely to remain subdued for the first couple of quarters. Pranav Haldea, the Managing Director of PRIME Database Group, noted that smaller-sized IPOs may be seen, but it may take some time before larger-sized deals come up, especially with the lack of sustained interest from FPIs.
Despite the promising IPO pipeline, market
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predict that it may take some time before larger-sized deals come up, especially with the lack of sustained interest from Foreign Portfolio Investors (FPIs). The weak conditions prevailing in the secondary market due to a combination of domestic and foreign factors are also likely to keep IPO activity muted for the first couple of quarters. However, some smaller-sized IPOs may still make their way into the
market. As per Prime Database, 54 companies have already received SEBI approval to raise a whopping ₹76,189 crore, with another 19 companies awaiting approval and looking to raise ₹32,940 crore. Among these, there are three companies and four NATCs looking to raise roughly ₹8,100 crore. Despite the uncertain market conditions, Pranav Haldea, Managing Director of PRIME Database Group, remains optimistic about the future of IPOs in India.