The capital generated through mainboard IPOs dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024.
Excluding LIC’s blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year.
Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets.
The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds.
“A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework,” said …
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