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IPO Market Update: Amidst the fall in the stock market, this financial year has not been good in terms of IPO Market. During the last few months of the financial year, only a few IPOs were seen. However, the next financial year is expected to be good for the IPO market, as about 54 companies are preparing to launch IPOs.
This is how the current financial year
Talking about the current financial year i.e. financial year 2022-23, during this period a total of 38 companies raised a total of Rs 52,600 crore through IPOs. Out of these 38 companies, the shares of only two were listed with a premium of more than 50-50 per cent. Dreamfolks Services shares were listed at 55 per cent premium and Electronics Mark India shares at 52 per cent premium. The most important in this financial year was the IPO of the government insurance company LIC (Life Insurance Corporation of India), which was listed at a discount of about 9 percent.
less profit, more loss
Only a few of the stocks listed in this financial year have done exceptionally well. During this period, Hariom Pipe Industries and Venus Tubes and Pipes proved to be multibaggers. Hariom Pipe Industries gave a return of about 225 per cent and Venus Tubes and Pipes gave a return of about 125 per cent. However, the overall year was bad as most of the IPOs proved to be a drain on investors’ money. LIC, Uma Exports and Elin Electronics were among the worst performing stocks. In the current financial year, they caused a loss of about 40-40 per cent to the investors.
fund raising plan
Talking about the next financial year i.e. 2023-24 starting from April 01, during this time 54 companies are in line to bring IPO. According to Prime Database, 54 companies have got SEBI’s approval to bring IPO during the next financial year and these companies are going to try to raise Rs 76,189 crore from the open market. Apart from these, there are 19 other companies which are awaiting SEBI approval and they plan to raise Rs 32,940 crore.
Effect of slow market
According to statistics, during 2022-23, 68 companies submitted the draft to bring IPO to SEBI. At the same time, during this financial year, 37 companies allowed their approval to lapse. That is, even after getting the approval of SEBI, these companies thought it appropriate to postpone the IPO. Together, these companies were about to raise about Rs 52,000 crore. During this, 12 companies withdrew their drafts, while SEBI on its part returned the drafts of 9 companies.
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