IPO offers dry up amid Covid-19 scare; filings with Sebi lowest in 6 years

Initial public offers (IPOs) have dried up this year as uncertainty continues around the Covid-19 pandemic, with draft red herring prospectus (DRHP) filings with the Securities and Exchange Board of India (Sebi) hitting a six-year low.
 

So far this year, only seven companies, looking to raise less than Rs 6,500 crore, have filed their DRHPs — a preliminary prospectus filed ahead of an IPO that contains key details such as the number of shares being offered, financial results, and risk factors.
 

Market experts said disruptions caused by the pandemic — to businesses as well as the filing process — and