New Delhi, Sep 26
India's primary market experienced its most active month this September in almost 28 years, as 25 companies went public on the mainboard, marking the highest number of listings since January 1997, when 28 were recorded.
The SME activity in the primary market also set a record, with 53 IPOs raising Rs 2,309 crore, the highest ever in a single month by both volume and value, as per the stock exchanges data.
A total of 25 IPOs raised over Rs 13,300 crore during the month. Meanwhile, SMEs raised Rs 9,129 crore through 207 listings, surpassing previous annual fundraising records with a quarter of the year still remaining.
Analysts linked the boom to strong foreign institutional inflows and consistent demand from retail investors and mutual funds, despite fluctuations in the secondary markets. Mutual funds, insurers, pension funds, and retail investors are pursuing new issues amid valuation concerns in the secondary market.