December second best month for IPOs, 11 companies at Rs. 8182 crore will be collected

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Ahmedabad: In December 2023, 11 companies presented their initial public offerings (IPOs). Through which these companies Rs. 8,182.7 crore will be collected. In December 2021, 11 companies collected Rs 9,534 crore. Thus December 2023 proved to be the next best month for IPOs.

The surge in IPO activity also reversed the bad luck experienced in December, a year before the general election. There were no IPOs in December 2008, 2013 and 2018, while two IPOs were launched in 2003.

There were no IPOs in the first half of December amid uncertainty over state elections and the Federal Reserve's monetary policy decisions. However, investors were encouraged by news that the US Federal Reserve had cut interest rates and hinted at the first cut early next year. The Fed indicated that interest rates will be cut by 75 basis points next year, more than the market expected.

The ruling Bharatiya Janata Party's victory in three out of five assembly elections has eased the political climate and raised hopes of policy and government continuity after next year's general elections.Investing by foreign portfolio investors increased this month. Foreign portfolio investors in December received Rs. 56,617 crore were net buyers of equity.

The Sensex has gained 5.3 percent so far in December 2023, the second best last month of the year after December 2020. Private equity investors and promoters have sold their stakes in several IPOs this month. Meanwhile, several PE firms were seen selling their stakes.

The IPO filing process will continue next month as well and around a dozen companies are ready to enter the market.

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