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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 Group's 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