Mumbai, April 23: The initial public offering (IPO) market looks eventful and interesting as 12 companies are planning to raise more than Rs 17,000 crore over the next two months. According to a report in Mint, experts have attributed the introduction of the new Indian accounting standards (IndAS) as one of the reasons why IPO-bound companies have not approached the market so far this quarter.
According to the report, several major IPOs, which includes, HDFC Asset Management Co. Ltd, auto parts maker Varroc Engineering Ltd, non-banking financial company IndoStar Capital Finance Ltd, microfinancier CreditAccess Grameen Ltd and women’s apparel maker TCNS Clothing Co. Ltd, are set to hit the market this quarter.
Other companies that are expected to launch their IPOs in the quarter include seafood exporters Devi Seafoods Ltd and Nekkanti Sea Foods Ltd. The report further talks about a data sourced from Prime Database, which shows that in the first quarter of 2018, 14 companies raised a total of Rs 18,591 crore through the IPO route, which is more than fourfold increase from the Rs 4,185 crore raised by five companies in the same period a year earlier.