50 IPOs raise funds over Rs 52,000 crore
The stock market exchange had streamlined the 50 IPOs list in their respective chart to intensify the funds growth over Rs 52,000 crore. Indeed the respective IPOs fueled the market financial growth amidst global volatility driven by rising inflation and geopolitical turmoil.
The respective companies issuing IPOs has raised around 52,000 crore rupees with almost marking a landmark year for the Indian exchange market. As many as 50 companies are going public and collectively raising around Rs65,000 crore. Around 24 companies, set to be already approved by market regulator, SEBI, are predominantly raising over Rs 26,000 crore. Meanwhile, 32 more companies have draft their papers with SEBI to initiate their funds raising of approximately Rs 35,000 crore, upon getting clearance.
Despite huge trending ratios of listing IPOs, the outright experts are signalling towards a sluggish outlook on the 2024 IPO market. The collection from initial public offerings [IPOs] has increased by an impressive 36 percent this year.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
The recent data shows that 2023 has been unconventionally, regarded as the year of IPOs, witnessing around 173 small and medium-sized enterprises [SMEs] and 52 mainboard listings. the market has signified outstanding debuts and subscriptions.
As per fundamental point of view, only seven out of the 50 companies listed in 2023 opened with discounts. The average gain on the listing day of stocks that debuted in 2023 stood at 29.5 percent, a significant improvement from 10.72 percent in 2022.
Read Also : CBI Arrests Northern Railways Engineer and Trackman in 34000 Rupees Bribery CaseAppreciably, the shares of Tata Technologies, IdeaForge, and Utkarsh Small Finance Bank had witnessed doubled or more than doubled rates on the listing day itself.
On summarising briefly, it is believed that the diversity of companies listing on the stock exchanges, ranging from tech startups to traditional businesses, indicates a broad based interest in equity financing. Well, several companies, including Oyo, Ola, and Go Digit are expected to enter the market in 2024.
Read Also : Mr Nehru Singh B to take charge as Chief Risk Officer of South Indian Bank