
IPO activity slows down, no main-bourse listings in last 3 weeks
secondary market. This slowdown in IPO activity is reflected in the numbers, as only five companies went public in January and four in February, compared to 16 listings in December 2024.
Quality Power Electrical Equipment Ltd was the recent IPO which opened for three-day bidding on February 14. However, the trend of slower activity is evident as at least three companies — Advanced Sys-tek, SFC Environmental Technologies, and Viney Corporation — withdrew IPO plans by pulling their draft papers in January and February.
This shift follows a remarkable 2024 in which 91 maiden public issues collectively raised Rs 1.6 lakh crore, driven by robust retail participation, a resilient economy, and booming private capital expenditure.
Bhavesh Shah, Managing Director and Head of Investment Banking at Equirus, told PTI that the slowdown is largely a result of the secondary market correction, especially in January and February, which negatively impacted the share prices of several listed companies. As a result, investors have shifted focus to their existing portfolios rather than exploring new listings.
Shah emphasized that the diminished investor attention on new IPOs has contributed to the slowdown in market activity.
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