Madhabi Puri Buch, Chairperson of the Securities and Exchanges Board of India (SEBI), announced that India has the highest number of initial public offerings (IPOs) globally. Speaking at the Federation of Indian Chambers of Commerce and Industry (FICCI) conference on August 2 in Mumbai, she expressed pride in this achievement.
“It is a matter of great pride to us that in the global league tables, India ranks number one on the total number of IPOs and issuances anywhere in the world,” said Buch.
Steady IPO Growth
Buch highlighted that India has an IPO almost every trading session, showcasing the steady growth of the Indian equities market. She compared India’s compounded growth rate of 49% over the last five years to other major economies, noting that India’s growth rate is unmatched.
“If you look at the growth rate, a 49 percent compounded growth rate over the last five years, there is nobody equaling our growth rate,” she said. “The quantum of funds raised is still to catch up with the larger economies, i.e., the US and China,” said Buch.
Simplifying the IPO Process
Buch emphasized SEBI’s efforts to simplify the IPO filing process. The regulator is introducing a “template fill-in-the-blank IPO document” to make it easier for companies to file their Draft Red Herring Prospectus (DRHP). If any complications arise, companies can explain them in a separate column.
Ensuring Accuracy and Speed
SEBI is also focusing on returning draft papers with internal inconsistencies to expedite the approval process for new filings. This measure aims to help Indian companies get faster approvals for their IPOs, ensuring accurate and correct filings.
Buch concluded by expressing pride in being part of an ecosystem that allows India to make a mark on the global stage.
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