Primary markets pick up pace in 2023; IPOs worth Rs 80,000 crore in pipeline
A positive trend in India’s primary markets, with an increase in the pace of Initial Public Offerings (IPOs) for the year 2023. It mentions that there is an IPO pipeline worth Rs 80,000 crore, which suggests a significant amount of capital being raised by companies going public.
This information suggests a positive sentiment in the Indian financial markets, with companies
looking to access the capital market to fund their growth and expansion plans. IPOs are a way for companies to raise funds from the public, and the strong pipeline indicates confidence in the investment climate and the appetite of investors to participate in these offerings.
For the most up-to-date and detailed news on this topic, I would recommend referring to a reputable financial news source or a business news website that covers developments in the Indian financial and stock markets in 2023.
This cautious optimism, to use a staple of marketspeak, has taken a while to build because 2023 began with a visible lull in the primary market—the section of the market where new or unlisted companies get listed on the stock exchanges through IPOs. Then in March, a slow trickle of IPOs began—just two to three a month—that has gained volume and momentum to the extent that there were around 20 IPOs—including mainboard and SME issues—in September. This included public issues of well-known companies like JSW Infrastructure and Yatra Online.
The primary market spurt has mirrored the movement of the benchmark indices this year. In the second quarter—April to June—the Sensex and Nifty clocked more than 2 per cent gains in each of the three months. The 30-share Sensex and the broader 50-share Nifty scaled their respective record highs of 67,927.23 and 20,222.45 on September 15. The Sensex has gained 7 per cent from the beginning of this year through September 28. Meanwhile, broader indices like the BSE MidCap and BSE SmallCap have gained over 25 per cent and 28 per cent, respectively, in that period.
