Fear of failure? Firms let IPO nods lapse on pricing mismatch, volatility

Companies whose approvals expire before July include India Exposition Mart, Cé#tech International, Senco Gold, and PKH Ventures. So far in 2023, six companies have raised Rs 6,430 crore through IPOs. The IPO of IKIO Lighting was subscribed 67 times, and Mankind Pharma's Rs 4,326-crore issue was subscribed 15 times. The warm response was due to the rise in secondary markets. The Sensex is just 0.2 per cent, and Nifty 0.5 per cent shy of their all-time highs. However, the gains happened after tumult in the Indian markets. rate hike fears, Hindenburg's report alleging A combination of various factors irregularities in the Adani Group and the banking crisis in the US led to heightened volatility. As a result, issuers have become cautious about their listing plans.

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