Covid-19 hits IPO filings, only 11 offer documents filed with Sebi this yr

Market players said the lockdown and social distancing norms had made it difficult for companies, investment bankers and legal firms to do the paper work for IPO filings

The pandemic has been a dampener for IPO (initial public offering) aspirants. So far this year, only 11 companies have filed their draft offer document with the Securities and Exchange Board of India (Sebi), down from 27 last year.

Market players said the lockdown and social-distancing norms had made it difficult for companies, investment bankers, and legal firms to do the paperwork for an IPO filing.

Add to that, the economic shock created by the pandemic has worsened the profit and loss accounts of many companies, which is acting as a deterrent.

“When the economy is not doing that well, you do not