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IPOs jump 350% in fourth quarter of 2022

February 14, 2023

IPOs jump 350% in fourth quarter of 2022
The Indian IPO market has finally picked up momentum in the fourth quarter of 2022 after a relatively muted year. 

Data analysed by EY shows that at least 18 IPOs were launched in the fourth quarter, the highest in the year while more than 10 companies filed their Draft Red Herring Prospectus, signally a potentially brighter 2023. 

The previous quarter had seen only four IPOs, which means there has been a 350% increase in IPO activity quarter on quarter. 

Consumer products and retail, diversified industrial products and technology were the most active sectors with 11, 9 and 8 IPOs launched respectively. There were 34 IPOs in the Small and Medium Enterprises segment in Q4 2022 as compared to 33 IPOs in the previous quarter. 

“We saw several IPOs concluding with good post-listing performance. Unlike earlier when capital markets significantly relied on foreign institutional investors, this robust growth pattern will continue because these companies are supported by domestic retail and institutional capital. The investments in domestic mutual funds and vehicles like Alternate Investment Funds are also compelling,” said Prashant Singhal, Partner and Emerging Markets Technology, Media & Entertainment and Telecommunications (TMT) Sector Leader, EY.

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