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29/03/2022 04:11pm

SMEs raised over Rs 900 crore through IPOs in FY22

image SMEs raised over Rs 900 crore through IPOs in FY22

New Delhi, Mar 29 (KNN) Initial public offerings (IPOs) from small and medium enterprises (SMEs) in the current financial year jumped from 28 companies raising Rs 244 crore to 67 SME IPOs raising Rs 932 crore in FY21, according to the data from Prime Database Group. 

The FY22 IPO amount was 3.8X higher than the previous FY. Moreover, the largest IPO in the SME category in FY22 was of Gujarat-based Aashka Hospitals for Rs 96 crore in September last year. 

The growth in SME IPOs was part of the overall surge in IPO fundraising in FY22 by businesses that raised an all-time high amount of Rs 1.11 lakh crore more than 3.5X of Rs 31,268 crore raised through 30 IPOs in FY21.

The success of the IPOs in FY22 was further buoyed by strong listing performance, said Pranav Haldea, Managing Director, Prime Database Group in a statement. 

Pertaining to SMEs, BSE SME had 234 companies listed as of March 29, 2022, while 131 had migrated to the BSE mainboard. 

Haldea said the IPO activity may remain muted for at least the next few weeks due to high volatility in the secondary market, mainly because of the Russia-Ukraine war. In addition, the overall liquidity, especially from foreign portfolio investors, has also been impacted due to rate hikes from global central banks. (KNN Bureau) 

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