Moneycontrol Pro Panorama | Year-end rush of IPOs

The buoyant market has helped India raise its share in global IPO volume, points out EY, a consultancy.

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The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. 

The buoyant equity markets are keeping investment bankers busy in the year-end holiday season. At least eight initial public offerings (IPOs) are set to open for subscription this week. Of this, three have already hit the Street on Monday. While three new public issues opened on Tuesday, two more IPOs are scheduled to open in the next two days.

The reduction in inflation and the halt to interest rate hikes by the central banks have revived sentiments in the equity markets, stoking fund raising activity. The number of IPOs so far in 2023 has surpassed 2022 levels even though total proceeds are lower than the previous year due to higher mix of small-cap public issues.

The 2023 IPO calendar has been marked by the successful public issues of Tata Technologies, Mankind Pharma which helped maintain investor interest in the primary market. The buoyant market has helped India raise its share in global IPO volume, points out EY, a consultancy.

Measures such as the reduction in time for listing of the securities after the closure of the public issue will help improve primary market efficiency and benefit investors. Greater flexibility in market entry and exit can attract more investments. “Direct listing of Indian incorporated companies on global exchanges remains under discussion and could lead to more activity,” adds EY.

As for the IPOs that are currently open, our Research Team is at work to help you pick the right stocks. You can read their insights here, exclusive to Moneycontrol Pro subscribers.

Our Research Team has analysed all three public issues that have opened today--Happy Forgings, RBZ Jewellers, Credo Brands Marketing. Of the three IPOs, they find one company suitable for long-term investment. They are cautious on one IPO. Read to find out more.

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Technical Picks: Asian Paints, Coal India, Crude oil, Zydus Lifesciences and
Zydus Life (These are published every trading day before markets open and can be read on the app).

R Sree RamMoneycontrol Pro