After mobilizing record Rs 1.11Lakh cr in FY22, 97 IPOs likely to hit D-Street in FY23; to raise Rs 2.21 lakh cr

After a blockbuster year for primary market, which saw 52 Indian corporates mobilizing an all-time high ₹1,11,417 crore through main board IPOs in financial year 2021-22, the FY 2022-23 appears even more eventful with nearly 97 IPOs in the pipeline. Of the total 97 companies planning to float their IPOs this FY, as many as 54 have received SEBI's nod, while 43 companies are awaiting capital market regulator approval.  
 
As per Prime Database, 54 companies proposing to raise a massive ₹1,40,000 crore, including the much-awaited LIC IPO are presently holding SEBI approval. "Another 43 companies looking to raise about ₹81,000 crore are awaiting SEBI approval. Out of these 97 companies, 7 are NATCs which are looking to raise ₹30,000 crore," it says.  

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However, IPO activity is likely to remain muted at least for the next few weeks due to high volatility in the secondary market, mainly because of the Russia-Ukraine imbroglio, says Pranav Haldea, Managing Director, PRIME Database Group. "Additionally, the overall liquidity, especially from FPIs, has also taken a hit following rate hikes from global central banks," he says.

FY 22 sees highest fund raising of Rs 1.11lakh crore via IPOs.

Meanwhile, 52 Indian corporates raised an all-time high ₹1,11,417 crore through main board IPOs in financial year 2021-22.  

The 2021-22 IPO amount was over 3.5 times Rs31,268 crore raised through 30 IPOs in 2020-21. The previous best year was 2017-18 in which ₹81,553 crore was raised.

IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the other key highlights of 2021-22.

At Rs 18,300 crore, India's largest IPO so far, One 97 Communications (Paytm), was also launched in 2021-22. This was followed by Zomato (₹9,375 crore), Star Health (₹6,019 crore), PB Fintech (Policybazaar) (₹5,710 crore), Sona BLW (₹5,550 crore) and FSN E-Commerce (Nykaa) (₹5,350 crore). Four out of the top 6 IPOs were from new age technology companies (NATCs) which together raised ₹38,734 crore. The average deal size was a high ₹2,143 crore.  

"Of the 50 IPOs for which data is available as of now, 29 IPOs received a mega response of more than 10 times (of which 5 IPOs more than 100 times) while 8 IPOs were oversubscribed by more than 3 times.

The balance 13 IPOs were oversubscribed between 1 to 3 times," it said.