Seeding Money: Dozens of Firms Eye Public Listings to Raise over Rs. 90,000 Crores
According to the latest data, as many as 56 companies across diverse sectors have planned initial public offerings (IPOs) and follow-on public offerings (FPOs) to collectively raise more than Rs. 90,000 crores in the coming months. This will make the ongoing period one of the busiest for capital market activities with several fledgling businesses eyeing public listings.
Data from Prime Database shows that close to 17 firms have already received approval from market regulator SEBI to launch their IPOs/FPOs to raise over Rs. 11,000 crores. Some of the major fundraising plans include Asirvad Microfinance and Allied Blenders & Distillers intending to raise around Rs. 1,500 crores each through their upcoming offers. Meanwhile, over 38 other companies have filed offer documents with SEBI and are awaiting clearance to launch public issues aiming to mobilize funds. Big-ticket offerings such as Swiggy's Rs. 8,000 crore issue and Bajaj Housing Finance's planned Rs. 7,000 crore IPO remain high on the horizon.
Experts cite India's stable economic growth despite global headwinds, exuberant stock markets, and a rising new-age investor base as key drivers for the ongoing enthusiasm among companies to explore capital markets. Thanks to buoyant investor sentiment, the primary market has seen growing interest versus previous years according to an analyst with a leading brokerage. If macroeconomic conditions remain supportive, the country could witness record funds raised through the IPO route over the next 18-24 months, culminating years of preparations for many new companies. However, analysts also caution investors to be discerning and avoid newlylisted stocks with overvalued pricing not backed by fundamentals.
