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Firms get second shot at IPO jackpot
Business Standard
|October 31, 2024
Buoyancy in the primary markets has thrown a lifeline for companies that were unable to successfully launch an initial public offering (IPO) on their first attempt.
So far this calendar year, 14 companies have refiled their draft red herring prospectus (DRHP) and half a dozen companies have successfully listed.
Companies that successfully listed this year after their DRHPs lapsed include Northern Arc Capital, Aadhar Housing Finance, Allied Blenders and Distillers, Godavari Biorefineries and Le Travenues Technology.
There are a few companies that have revived their listing plans after several years and some are looking to list after going private.
Mumbai-based real estate developer Kalpataru refiled its DRHP in August this year, 11 years after its offer document had lapsed.
Acme Solar Holdings also filed its DRHP after five years.
Similarly, Amanta Healthcare filed its offer documents after more than a decade.
Hexaware Technologies, which delisted from the bourses in November 2020, filed its DRHP in September.
Investment bankers said buoyant markets, improved valuations and wider acceptance for companies across sectors is underpinning these filings.
This story is from the October 31, 2024 edition of Business Standard.
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