Sebi concerned as Rs 600 bn worth of approved IPOs are yet to hit market

Fund raising via IPOs is less than half of last year amid higher volatility in secondary market; 14 of 24 firms listed this year are trading below issue price, making investors wary of new offerings

Market regulator Securities and Exchange Board of India (Sebi) has expressed concerns over the drop in activity in the primary markets.

“Over Rs 600 billion worth of IPOs are yet to hit the markets despite regulatory approvals. IPOs not clicking is a cause of worry,” said Ajay Tyagi, chariman, Sebi.

Speaking at AIBI Summit 2018, Tyagi cautioned that pricing of IPOs should be done more carefully in volatile times and said the onus is on the bankers to get the pricing right.

AIBI is an industry lobby for investment bankers.

"Investment bankers have a role to see that IPOs are