IPO fundraising peaks in 2021-22

A total of 52 Indian corporates raised an all-time high Rs 1.11 lakh crore through main board IPOs in the financial year 2021-22. This was despite the last quarter seeing only five IPOs, as per Pranav Haldea, MD, Prime database.

The 2021-22 IPO amount was over 3.5 times Rs 31,268 crore raised through 30 IPOs in 2020-21. The previous best year was 2017-18 in which Rs 81,553 crore was raised. IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the other key highlights of 2021-22. Overall public equity fundraising, however, dropped to Rs 1.70 lakh crore from Rs 1.90 lakh crore in the preceding year.

The largest IPO in 2021-22, which was also the largest Indian IPO ever, was from One 97 Communications (Paytm) for Rs 18,300 crore. This was followed by Zomato (Rs 9,375 crore), Star Health (Rs 6,019 crore), PB Fintech (Policybazaar) (Rs 5,710 crore), Sona BLW (Rs 5,550 crore) and FSN E-Commerce (Nykaa) (Rs 5,350 crore). As can be seen, four out of the top 6 IPOs were from new age technology companies (NATCs) which together raised Rs 38,734 crore.

The average deal size was a high Rs 2,143 crore.

Of the 50 IPOs for which data is available as of now, 29 IPOs got a mega response of over 10 times (of which 5 IPOs more than 100 times) while 8 IPOs were oversubscribed by more than 3 times.