Fundraising via IPOs halved in FY23 compared to FY22

Thirty seven Indian companies raised Rs 52,116 crore through IPOs in FY23. This was less than half of the funds raised via IPOs in the previous year, as per a mint report. According to primedatabase, 53 IPOs mobilised Rs 1.11 lakh crore which was an all-time high. The overall public equity fundraising also dropped 56% to Rs 76,076 crore, from Rs 1,73,728 crore in 2021-22. The fourth quarter of 2022-23 has seen the lowest amount being raised in the last nine years However, the amount raised in 2022-23, is still the third highest ever in terms of IPO fundraise.

According to the report, LIC's IPO, Rs 20,557 crore alone accounted for around 39% of the total fundraising in FY23. This was followed by Delhivery at Rs 5,235 crore and Global Health at Rs 2,206 crore.

Prime Database group MD Pranav Haldea, has said that as many as 25 out of the 37 IPOs came in just three months of the year which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity.