Page 10 - Prime Database News Today

IPO mobilisation climbed significantly by 76% in the first half of 2023–24, excluding LIC IPO that was launched last year.Retail investors showed greater enthusiasm, with the average number of applications increasing to 10.02 lakh, according to Prime Database Groups report.

Through equity deals domestic firms and their promoters raised $18.4 billion in the first nine months of 2023, a 34.4% jump from the same period of last year, said the London listed data tracker group, Refinitiv.

In September, a record number of small and mid-sized enterprises went public, with 37 companies raising over Rs 1000 crore, the highest since SME IPOs began in 2012, as per Prime Database data.

IPO response was further buoyed by strong listing performance. Average listing gain (based on closing price on listing date) increased to 29.44 per cent in the first half of 2023-24 in comparison to 11.56 per cent in the first half of 2022-23, ...

Of the 31 IPOs that hit the market in H1 FY24, as many as 21 were rolled out in August and September, according to data from PRIME Database

It appears that block deals are here to stay. According to Nuvama Alternative Research, between August 22 and December 31, a total of 37 companies are slated to have their pre-listing shareholder lock-ins, both for promoters and non-promoters, lifted. The promoters and non-promoters may look to book profits through block deals when the lock-ins end

As of 12 noon, BSE SME IPO index traded down about 3 percent at 34,748. However, compared to over 100 percent gains in the last one year, this will likely not pinch much.

The BSE SME IPO index – a representative index of SME stocks having over 60 constituents stocks as of now – has delivered a whopping 10,350 percent returns in the last 10 years

As of 12 noon, BSE SME IPO index traded down about 3 percent at 34,748. However, compared to over 100 percent gains in the last one year, this will likely not pinch much.

2023 has been an active year for block deals and according to data from Prime Database, PE and venture capital firms exited investments worth Rs 57,338 crores through block deals between January and August as compared to Rs 41,051 crores during same period last year