The chief of India's capital market regulator today expressed concerns about the slow pace of initial public offerings (IPOs) hitting the market despite approval for filings worth around 600 billion rupees ($8.43 billion).
However, Ajay Tyagi, the chairman of Securities and Exchange Board of India (SEBI), cautioned that pricing of IPOs should be done more carefully in volatile times.
Fund raising by small-and-medium-sized companies have doubled as against last year, Tyagi said addressing an investment banking event in the city.
Driven primarily by domestic investors, the broader NSE Nifty has gained 3.4 per cent, while the benchmark BSE Sensex is up 6.5 per cent so far this year.
However, a debt crisis at a major infrastructure company in September and tightened liquidity due to global trade tensions have dampened investor sentiments, making it difficult for companies to come out with IPOs.