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market | IST

New-age IPOs: SEBI permitting loss-making companies to list opened the gates, says Pranav Haldea

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The stock market has seen Rs 93,000 crore flow in via new listings since the start of the pandemic. 2021 will break all the records when it comes to initial public offerings (IPOs) and with 30 more lined up, around Rs 75,000 crore is expected to be raised. Zomato has just listed and Nykaa, Paytm, Delhivery, are queuing up to raise funds. What is new and what is on top of mind of these new-age IPOs? Pranav Haldea, MD of PRIME Database discussed this further.

The stock market has seen Rs 93,000 crore flow in via new listings since the start of the pandemic. 2021 will break all the records when it comes to initial public offerings (IPOs) and with 30 more lined up, around Rs 75,000 crore is expected to be raised.
Zomato has just listed and Nykaa, Paytm, Delhivery, are queuing up to raise funds. What is new and what is on top of mind of these new-age IPOs? Pranav Haldea, MD of PRIME Database discussed this further.
“We have already seen 36 IPOs and over Rs 60,000 crore has already been raised and this Rs 60,000 crore is more than any full calendar year that we have seen - barring 2017 when Rs 67,000 crore was raised. The way things are right now, we are well on our way to surpass that figure,” he said.
The new-age start-up companies of India are getting listed and Haldea finds this an encouraging sign but with riders.
"One of the biggest changes that the SEBI made was permitting loss-making companies to list in India. A lot of these companies were looking at overseas listing but ever since they allowed loss-making companies to list in India, with the caveat that 75 percent needs to be held with the institutional investors. That has aided these companies looking at the domestic listing,” he said.
Indian shareholding has never been more democratised. Retail shareholding now accounts for almost one in every Rs 10 invested in stock markets.
For the full interview, watch the accompanying video.