Even as markets regulator Securities and Exchange Board of India (SEBI) has decided to tighten rules for initial public offers (IPOs) to control extreme volatility in stock prices on their listing day and also to cap their proceeds, which are earmarked for making future acquisitions, as many as 23 companies are ready to bring in their public offers in the March quarter of the current fiscal.
In all, these companies aim to raise around Rs 44,000 crore through the IPO route, with technology-driven companies leading the pack. This comes after 63 companies mopped up a record Rs 1.2 lakh crore in 2021 through initial public offerings (IPOs) even as the Coronavirus pandemic impacted the domestic economy.
Hotel aggregator OYO (Rs 8,430 crore), Adani Wilmar (Rs 4,500 crore), Emcure Pharmaceuticals (Rs 4,000 crore), Vedant Fashions (Rs 2,500 crore), Paradeep Phosphates (Rs 2,200 core), Medanta (Rs 2,000 crore) and Ixigo (Rs 1,800 crore) are some of the key entities which are expected to float their initial share-sales during the March quarter, merchant bankers said.
Some other companies which will also come up with their IPOs during this period include, Mobiwik, Skanray Technologies, Healthium Medtech, and Sahajanand Medical Technologies among others, merchant bankers further informed.
Apart from these firms, PowerGrid InvIT (Infrastructure Investment Trust) mopped up Rs 7,735 crore through its IPO, while Brookfield India Real Estate Trust raised Rs 3,800 crore through REIT (Real Estate Investment Trust).
Excessive liquidity, huge listing gains and increased retail investor participation spurred a persistent euphoria in the IPO market in 2021, experts said.
These firms are raising funds for organic and inorganic growth initiatives, debt payments and giving exits to existing shareholders, they further informed.