24 Companies Receive SEBI Approval for IPOs on December 25, 2023

IPO Watch: 24 Companies Receive SEBI Approval for IPOs in 2023

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It has been a remarkable year for initial public offerings (IPOs) in 2023, with a total fundraising amount of Rs 52,000 crores. Despite fluctuations in interest rates and political tensions, the number of IPOs has increased compared to previous years. Experts predict that the IPO market will remain strong in 2024.

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Outperforming the mega IPO of LIC, which raised Rs 20,557 crores in 2022, this year’s public issues have raised 36% more funds. The performance of small and medium-sized companies in the market has been impressive during the ups and downs.

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According to Mahavir Lunawat, Managing Director of Pantomath Capital Advisors, the attractiveness of IPOs lies in their profitability and reasonable prices. Additionally, the confidence of investors in the Indian market has increased due to strong regulatory frameworks.

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Anand Rathi, Director and Head of Investment Banking at Anand Rathi Advisors, believes that the momentum of 2023 will continue into 2024, making it a golden year for the Indian primary market.

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Neha Agarwal, Managing Director and Head of Equity Capital Markets at JM Financial, stated, “We expect the IPO market to remain strong in 2024. This optimism is fueled by the potential for better growth opportunities in the Indian market. Subsequently, we anticipate further momentum in investments.”

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SEBI has already granted approval to nearly 24 companies to launch their IPOs, with an estimated fundraising amount of over Rs 26,000 crores. According to Prime Database, approximately 32 companies have submitted their documents to SEBI to raise around Rs 35,000 crores.

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In total, 58 companies have filed for IPOs this year, raising a whopping Rs 52,637 crores. This is slightly lower compared to last year, where 40 companies raised Rs 59,302 crores through IPOs.

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Stay tuned for more updates on the exciting IPO market as we enter 2024!

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Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.