Choppy market hits IPO plans

Weak primary market conditions have taken a toll on India Inc’s plans to raise funds through initial public offerings (IPOs). Since January 1, 2011, about 46 companies have called off their IPO plans aiming to raise a total Rs 38,326 crore, according to SMC Global. In 2012 so far, 17 IPOs to raise about Rs 5,928 crore, have been put on the backburner. The list of companies that have called off their IPOs during 2012 include Micromax, Embassy Property, Joyalukkas, Lokmat Media, VRL Logistics, Aravali Infrapower and Semantic Space Technologies ,among others(Click on graphic)