IPO fundraising down 26% but average listing gains are up 29% this year

The largest IPO in the first half of 2023-24 was from Mankind Pharma (Rs 4,326 crore). This was followed by JSW Infrastructure (Rs 2,800 crore) and RR Kabel (Rs 1,964 crore).

Even though overall public equity fundraising has increased 69 per cent in the first half of 2023-2024, funding for initial public offerings ( IPOs) has dipped in the same period.

Thirty-one Indian corporates raised Rs 26,300 crore through main board IPOs in the first half of 2023-24, 26 per cent lower than the Rs 35,456 crore mobilized by 14 IPOs in the same period in 2022-23, according to primedatabase.com, India’s premier database on the primary capital market.

However, excluding the mega LIC IPO which took place last year, IPO mobilisation increased by a huge 76 per cent from last year.

 

Overall public equity fundraising increased to Rs 73,747 crore from Rs 43,694 crore in the first half of 2022-23.