Fund raise via IPO more than halves to Rs 52,116 cr in FY23 from FY22

The total amount raised through initial public offerings (IPOs) more than halved to Rs 52,116 crore in FY23 from an all-time high collection of Rs 1,11,547 crore in the previous fiscal, according to an analysis.

According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in FY22.

Pranav Haldea, managing director of Prime Database Group, said Rs 20,557 crore which is 39 per cent of the total amount raised in FY23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore in the year. Yet, FY23 is still the third highest in terms of IPO fund-raise, he said.

Overall public equity fundraising also dropped by 56 per cent to Rs 76,076 crore in the reporting year from Rs 1,73,728 crore in FY22.

While IPOs were worth Rs 54,344 crore (including SME issues) in the year, total fund raising through the capital markets stood at Rs 85,021 crore, of which Rs 11,231 crore were from the OFS (offer for sale) route,