Economic slowdown impact: Over 20 IPOs stare at SEBI approval lapses

Slowdown, volatile market loom over maiden offerings worth Rs 16,500 crore

The decline in secondary markets and economic downturn are likely to play spoilsport for over 20 companies looking to launch their initial public offerings (IPOs).

According to data by PRIME Database, the approval granted by markets regulator Securities and Exchange Board of India (Sebi) to nearly two dozen companies is set to expire over the next few weeks. Investment banking sources say that barring a couple, most companies won’t be able to enter the markets, given the challenging environment.

These were looking to raise a cumulative Rs 16,500 crore. Sebi’s approval has one-year validity. If a company fails to launch its IPO