India sees 8 IPOs worth $850 mn in Sept quarter

New Delhi: Eight Indian companies came out with IPOs worth $850 million in the three months to September and the second half of this year is likely to be "significantly better" in terms of raising funds from the primary market, according to an EY report.

EY India IPO Trends Report Q3 2020 also showed that real estate, hospitality and construction and technology and telecommunications were the most active sectors with two IPOs launched in each sector.

In terms of volumes, the number of Initial Public Offerings (IPOs) at eight in the 2020 September quarter is lower than 12 recorded in the year-ago period. However, the amount involved in

the 12 IPOs was only $651.98 million. At current exchange rates, $850 million is little over Rs 6,200 crore.