Coronavirus outbreak: Stock market turmoil to hurt plans for IPOs

Valuation computations for proposed deals go awry

The current turmoil in Indian equities has thrown cold water on the fundraising plans of companies, with valuation computations going awry and investors jittery about locking up money in new names.

The initial public offerings (IPOs) of speciality chemicals firm Rossari Biotech and restaurant chain Burger King — which planned to hit the market this month — have been deferred, said two people familiar with the matter.

The companies planned to raise about Rs 500 crore and Rs 1,000 crore, respectively. Antony Waste Handling Cell is struggling to garner the required subscription for its share sale despite lowering the price