Realtors remain IPO-shy, wait for sentiment to improve

While 26 companies rolled out IPOs of shares in the last one year, real estate firms stayed away

While 26 companies rolled out Initial Public Offerings (IPOs) of shares in the last one year, real estate firms stayed away.  

Paranjape Schemes Constructions, which had got nod last year for its Rs 600-crore IPO, let its one-year approval period lapse. 

"Property sales have been sluggish and the sector has been facing headwinds. So, firms are in wait-and-watch mode," said V Jayasankar, head, equity capital markets, Kotak Investment Banking.

Twenty companies may make offerings in 2017, of which 11 have got nod already. Of these, PSP Projects, yet to get nod, is the only realty firm.