InvestorQ : How have been the pace of IPO approvals by SEBI in the current fiscal year FY23?
swati Bakhda made post

How have been the pace of IPO approvals by SEBI in the current fiscal year FY23?

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Sam Eswaran answered.
2 months ago
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The IPO approvals have been on at a fairly sharp pace in the fiscal year FY23 so far, although there is a virtual drought of IPOs in the last 2 months. In fact, if you look at the first 4 months of FY23 between April and July 2022, SEBI approved a total of 28 IPOs slated to raise funds worth Rs45,000 crore. Normally, when the company files a draft red herring prospectus (DRHP) with SEBI, the regulator approves and gives its comments with 2-3 months, which is equivalent to an IPO prospectus approval by SEBI.

Till date, FY23 has seen 11 IPOs hitting the market raising Rs33,000 crore between them. However, this figure is tad misleading as LIC and Delhivery accounted for more than 85% of the total funds raised in this fiscal year so far. Some of the IPOs to get SEBI clearance in FY23 include names like Fabindia, Bharat FIH, TVS Supply Chain Solutions, Aadhar Housing Finance, Macleods Pharma etc. Launch dates are awaited, while the only IPO date to be announced is for the Rs766 crore IPO of Syrma SGS Technologies, opening on 12th August.

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