18 companies receive SEBI approval to raise ₹20,000 crore via IPOs: Prime Database Group MD

Pranav Haldea, MD of Prime Database, highlighted the impact of elections on India's IPO market in a conversation with CNBC-TV18. He noted that historically, election years witness subdued IPO activity in April and May, but 2024 has been an anomaly with seven IPOs raising nearly ₹15,000 crore during this period. \r

Reflecting on the broader trend, Haldea mentioned that 52 IPOs raised ₹50,000 crore in the six months leading up to the elections this year, signaling robust market activity despite recent volatility. Looking ahead, he expressed optimism about a strong IPO pipeline, citing 37 companies awaiting SEBI approval to raise ₹50,000 crore. \r

Haldea emphasized the buoyancy of the secondary market and investor confidence, predicting a stellar year for IPOs in 2024-2025 across various sectors including new-age companies like Swiggy.