This must be attributed to the efficient process laid out by the market regulator SEBI and able handling by the eco system participants such as investment bankers and registrar
FinTech BizNews Service
Mumbai, December 1, 2023: The Indian market is retaining it’s positive trajectory.
The primary market stole the spotlight in the week of November 25 to December 1,
2023, with a line-up of IPOs capturing investor interest. Tata Technologies IPO, as
expected by the Street, witnessed robust demand from all sections of investors, says
Mahavir Lunawat, Managing Director, Pantomath Capital Advisors.
Total subscription amount of INR 3.5 Lakhs crore and more than 1.5 crore
applications getting processed in T+3 is a new global record. This must be attributed
to the efficient process laid out by the market regulator SEBI and able handling by
the eco system participants such as investment bankers and registrar, adds Mahavir
Lunawat.
The IPO frenzy extended beyond Tata Technologies, with other issues like Gandhar
Oil, IREDA, and Flair Writing Industries experiencing robust demand from investors.
Fedbank Financial Services, which initially garnered a muted response, witnessed
full subscription on the third day.
The surge in IPO activity is attributed to the eagerness of companies to tap into
capital markets before or after the Lok Sabha elections, couples with robust
economic activity and positive sentiments from both domestic and foreign investors
towards India and this momentum likely to continue well into 2024.
