Public issues of a large number of companies are in line for the March quarter of the current financial year
New Delhi:
Even as market regulator Securities and Exchange Board of India (SEBI) has decided to tighten norms for initial public offerings (IPOs) to control excessive volatility in stock prices on the day of their listing and also limit their income, which are set to be acquired in the future. In the March quarter of the current financial year, 23 companies are set to go for public offerings.
Overall, these companies aim to raise around Rs 44,000 crore through IPOs, with technology-driven companies leading the way. This comes as 63 companies raised a record Rs 1.2 lakh crore through initial public offerings (IPOs) in 2021, even as the coronavirus pandemic hit the domestic economy.
Hotel aggregators OYO (Rs 8,430 crore), Adani Wilmar (Rs 4,500 crore), Emcure Pharmaceuticals (Rs 4,000 crore), Vedanta Fashions (Rs 2,500 crore), Paradip Phosphates (Rs 2,200 crore), Medanta (Rs 2,000 crore) and Xigo (Rs 2,200 crore) 1,800 crore) are some of the major entities, which are expected to commence their initial share-selling during the March quarter, merchant bankers said.
Some other companies that will come up with their IPOs during this period include MobiVik, Scanray Technologies, Healthium Medtech and Sahajanand Medical Technologies, the merchant bankers further informed.
Apart from these firms, POWERGRID InvIT (Infrastructure Investment Trust) raised Rs 7,735 crore through its IPO, while Brookfield India Real Estate Trust raised Rs 3,800 crore through REIT (Real Estate Investment Trust).
Experts said high liquidity, huge listing gains and increased participation from retail investors continued to fuel the IPO market in 2021.
These companies are raising funds for organic and inorganic growth initiatives, debt payments and exits to existing shareholders, he adds.
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