Firms get second shot at IPO jackpot as buoyant markets offer a lifeline

So far in 2024, 68 firms have raised over Rs 1 trillion through IPOs. This is only the second time after 2021 that IPO mop-up is crossing Rs 1 trillion

Buoyancy in the primary markets has thrown a lifeline for companies that were unable to successfully launch an initial public offering (IPO) on their first attempt.

 

So far this calendar year, 14 companies have refiled their draft red herring prospectus (DRHP) and half a dozen companies have successfully listed. 

Companies that successfully listed this year after their DRHPs lapsed include Northern Arc Capital, Aadhar Housing Finance, Allied Blenders and Distillers, Godavari Biorefineries and Le Travenues Technology. 

There are a few companies that have revived their listing plans after several years and some are looking to list after going private.