Only 14 Indian corporates raised ₹35,456 crore through main-board initial public offers (IPOs) in the first half of the fiscal year 2022-23. This is 32 per cent less than ₹51,979 crore raised through 25 IPOs in the corresponding period of 2021-22, according to data compiled by Prime Database.

The IPO of Life Insurance Corporation (LIC) of India worth ₹20,557 crore accounted for 58 per cent of the total funds raised so far this year.

Overall public equity fundraising — including SME IPOs, follow-on public offers (FPO), and qualified institutional placement (QIPs) — also dropped 55 per cent to ₹41,919 crore from ₹92,191 crore in the corresponding period of the previous year.

However, the pipeline in the second half is strong, with 71 companies holding approval from SEBI looking to raise ₹1.05-lakh crore. Another 43 companies, looking to secure about ₹70,000 crore, are also awaiting approval from the capital markets regulator.

Published on September 29, 2022