Record IPOs knock-on- the market amid robust response & Navratri fever

Auspicious time of Navratri and runaway returns delivered by some recent issues set the mood for record number of 14 SME (small and medium enterprises) IPOs that have approached the primary market this week, including Concord Control Systems, Cargotrans Maritime, Lloyds Luxuries, Cargosol Logistics, Silicon Rental Solutions, Vedant Asset, Isolation Energy, Cyber Media Research, Indong Tea, MaaghAdvertising, QMS Medical, Reetech International Cargo & Courier, Steelman Telecom, Swastik Pipe and Trident Lifeline.

The data compiled by Aaryana Matasco, an emerging company Investor Relations and PR Firm, shows the record for highest number of SME IPOs in a single month that was 24, witnessed in October 2018 is also being broken this month with the launch of 27 IPOs in September 2022.

The secondary markets have been volatile, but demand for SME IPOs has been better this year. This year, the demand to list on the SME platform has been robust compared to 59 listings in 2021 which raised total amount Rs 787 crore. A total of 79 IPOs have debuted on the SME platforms and successfully raised Rs 1363 crore so far in 2022 calendar year.

Market experts believe the bearishness in the broader market and the slowing global economies did not impact SME issue offers. India is better placed to deal with ongoing economic challenges compared to many of our peer group countries. Therefore, despite volatile market conditions, the Indian IPO market continues to see new offerings from a diverse array of sectors. As the market sentiment improves the activities will gain pace.

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