Election, market uncertainty looms large over IPOs worth $2 billion

Close to a dozen firms sitting on Sebi approvals wait for market conditions to improve

Election and market uncertainties are looming large over companies whose regulatory approvals to launch their initial public offerings (IPOs) expire before May 2019.  

A dozen companies - planning a cumulative fundraiser of close to $2 billion - have market regulator Securities and Exchange Board of India’s (Sebi’) nod in place. These companies have not been able to launch their IPOs this year due to prevailing volatile market conditions and the uncertainty around the state and general elections, said bankers.

If these companies do not launch their offerings before May 2019, their approvals would lapse.

The Sebi approval for IPOs is valid