IPO activity witnessed a slump during the three months ended September, amid sharp volatility in the secondary market. The quarter saw only 10 deals — 78 per cent lower than the previous quarter. In terms of number of deals, India ranked sixth globally.
Total IPO proceeds, however, were only 6 per cent lower, thanks to the large-ticket IPOs of Sterling and Wilson Solar, and Spandana Sphoorty. So far this year, 51 IPOs (including SME listings) worth a cumulative $2.4 billion have taken place. On a year-on-year basis, the number of deals and IPO proceeds is 66 per cent and 54