Why India's IPO market is in a deep freeze
India's IPO scene is having a tough quarter, thanks to the Iran conflict and a sliding rupee (now past 92 per dollar).
IPO fundraising has dropped from $2.3 billion last year to $1.5 billion this quarter, and the Nifty 50 Index is down almost 7%—not exactly the vibe investors were hoping for.
Recent IPOs struggling post-listing
Despite all this, some companies are still going public—Sedemac Mechatronics just launched a ₹1,352 crore IPO and NHAI InvIT has big plans too.
But it's been rough after listing: six out of nine recent IPOs are trading below their offer prices.
Clean Max Enviro Solutions is already trading approximately 20% below its IPO issue price.
FIIs pumped ₹7,000 crore into new IPOs
Foreign institutional investors put ₹7,000 crore into these new IPOs but pulled out ₹21,200 from the broader market.
It's a confusing time for everyone watching Dalal Street—but if things calm down globally, we might see the IPO buzz return.