Fund raising via IPO slumps 53% to Rs 12470 crore in April-September

Indian companies raised Rs 12,470 crore through initial public offerings (IPOs) in April-September this fiscal, a plunge of 53 percent from the year-ago period, mainly due to volatile equity markets and uncertainties in macro environment. Some analysts believe that the IPO market for the second half of the ongoing financial year will be poor as the secondary market would continue to be choppy on account of high crude price, depreciating rupee and tariff war between US and China. However, others are of the view that concerns related to IPO market may be over-rated as the underlying consumption demand continues to remain buoyant. Kalyaniwala believe that the IPO market for the second half of the ongoing financial year will be poor and uninspiring. However, Agarwal believe that the concerns related to IPO market may be over-rated as the underlying consumption demand continues to remain buoyant and government is expected to take proactive steps in the run-up to various state and general elections to further bolster the same.

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