IPO ISSUES IN Q… WAITING FOR THE MARKETS TO STABILISE—LIC IPO MAY ENTER MARKETS ANY TIME IN A FEW MONTHS.
Activity in the market for initial public offerings (IPOs) has died down for now, as sentiment overall has turned cautious.
Last financial year, 30 companies raised around Rs 31,000 crore through IPOs as the market was on a tear, aided by robust liquidity conditions across the globe.
Things have been slow so far this year, but that could be set to change.
Several companies have approached market regulator SEBI seeking its approval to go public. The list is spread across industries, giving investors enough choice for a sector consistent with their appetite for risk.
Arohan Financial Services, Dodla Dairy, India Pesticides, Krishna Institute of Medical Sciences, Sona Comstar, Seven Islands Shipping, among others have already received the green light from SEBI.
Zomato, GoAir, Devyani International, Supriya Lifescience, Medi Assist, Fincare SFB, Penna Cement, Windlas Biotech are among those which have filed papers with SEBI and are awaiting the go-ahead.
“There is a significant amount of liquidity which is helping the secondary market and the investors are waiting for the right opportunity to invest in the good quality and interesting companies,” said Sudip Bandyopadhyay, Group Chairman Inditrade Capital.
According to Bandyopadhyay, the second wave of COVID-19 will be ‘short-lived’ which will keep the market volatile for while.
“However, there is a huge appetite for new issues as the upside potential of the market remains intact. There are some interesting and good quality companies which are coming with IPOs and they will provide a good opportunity to the investors,” he added.
Bandyopadhyay said he remains positive on good quality, fundamentally strong companies. On sectors, he is bullish on pharma for the long term and believes that the current bull-run in the metal sector to sustain for a while.
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