BSE expects record-breaking IPO run to continue unabated in 2025, CEO says Premium
The Hindu
India’s record-breaking capital-raising spree will continue in 2025 given the strong pipeline of firms looking to go public, the head of the country’s oldest exchange told Reuters.
India's record-breaking capital-raising spree will continue in 2025 given the strong pipeline of firms looking to go public, the head of the country's oldest exchange told Reuters.
"There are 90-plus companies that have already filed their draft prospectus with the regulator, looking to raise an estimated 1 trillion rupees ($11.65 billion) at some point this year," Sundararaman Ramamurthy, the CEO of BSE said on Thursday.
Last year, 91 large firms went public on the BSE, earlier known as the Bombay Stock Exchange, and the NSE, or National Stock Exchange, raising a record 1.6 trillion rupees via initial public offerings (IPOs), according to analytics firm Prime Database.
Overall public equity fundraising more than doubled to 3.73 trillion rupees.
Mr. Ramamurthy said the IPO boom has more Offers for Sale (OFS), where large shareholders sell existing shares, with the proceeds going to them, instead of fresh issues that provide firms with capital to invest.
"I would like to see the OFS percentage coming down and fresh capital raising go up."
BSE earned 1.57 billion rupees in listing fees in the first-half of 2024-25, according to East India Securities. This compares to 1.3 billion rupees in fees reported a year earlier.
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