Retail applications in IPOs drop 64% week-on-week amid fund crunch

Some believe the latest correction in the broader market and falling grey market premiums also played on investors' minds

The four IPOs launched this week managed to garner only a third of retail applications compared to last week amid paucity of funds.
 
The public offerings of CarTrade Tech, Aptus Value, Nuvoco Vistas Chemplast Sanmar saw subscriptions between 1.7 times and 20.3 times and attracted cumulative applications of 3.74 million.
 
In comparison, Devyani International, Krsnaa Diagnostics, Exxaro Tiles and Windlas Biotech had seen subscriptions between 22.5 times and 117 times with the number of applications crossing the 10-milllion mark.
 
Industry experts said the sharp drop in retail interest is more to do with lack of availability of