Market volatility forces many companies to let go of their IPO plans

Industry players say some companies plan to re-file their DRHPs so that they can have another stab at listing

In 2022, 59 companies raised Rs 59,332 crore through initial public offerings (IPOs).  However, not everyone was lucky enough to realise their fund-raising plans. Market volatility forced several companies to let approval granted by the capital markets regulator — the Securities and Exchange Board of India (Sebi) — lapse.

A company has to launch its IPO within one year after Sebi’s final observations.
 

In 2022, 28 such approvals lapsed. Together, they could have raised Rs 38,828 crore. The offer documents which expired in December could alone have raised Rs 10,350 crore.

Industry players say some companies plan to re-file their