In Revival Mode

With benchmark indices gaining more than 10 per cent in the past two months, companies are reviving their IPO plans, which were on hold for quite some time

BY ASHISH RUKHAIYAR

AFTER A complete lull for two months, the primary market saw some action in August with two initial public offerings (IPOs) hitting the market. While the IPO of engineering and design solutions firm Syrma SGS Technology was subscribed 15.6 times, the public issue of airport services aggregator platform Dreamfolks Services got subscribed 23.25 times. The benchmark indices, too, have gained over 10 per cent in the past couple of months. Market participants believe that the response to the recent public issues shows that there is still appetite for IPOs amidst the volatility, provided investors are satisfied with the valuations. This assumes significance as last year was a record one in terms of IPO fundraising with a cumulative amount of ₹1.2 lakh crore raised through 63 public issues, though many of the…

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Business Today (Digital) - 1 Issue, 18 September 2022

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