40 Companies Looking To Raise Nearly Rs70,000 Crore through IPO Let Their Approval Lapse in 2023: Report
IANS 03 January 2024
The IPO (initial public offer) pipeline for 2024 continues to remain strong. 27 companies proposing to raise Rs28,500 crore are presently holding SEBI approval while another 36 companies looking to raise about Rs40,500 crore are awaiting SEBI approval, as per Prime Database.
 
According to Pranav Haldea, managing director (MD), Prime Database group the next couple of months should see several IPOs being launched before a pause on account of the general elections.
 
The year 2023 saw 87 companies filing their offer document with SEBI for approval (in comparison to 89 in 2022). On the other hand, 2023 also saw 40 companies looking to raise nearly Rs70,000 crore letting their approval lapse, three companies looking to raise Rs3,550 crore withdrawing their offer document and SEBI returning the offer document of a further six companies looking to raise Rs10,800 crore.
 
According to Haldea, IPO response was further buoyed by strong listing performance. Average listing gain (based on closing price on listing date) increased to 29 %, in comparison to 11 per cent in 2022.
 
Of the 57 IPOs, 40 gave a return of over 10%. Tata Technologies gave a stupendous return of 163% followed by Ideaforge (93%) and Utkarsh Small Finance Bank (92%). Fifty-three of the 57 IPOs are trading above the issue price (closing price of 1 January 2024) with an average return of 46%.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 
Comments
r_ashok41
1 year ago
if a table had been included giving all the ipo name and cmp/listing price and IPO price would have been great.But may be available somewhere
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