Having missed their first shot at listing, companies are having a second-go but at a lowered size. In recent months, companies such as TVS Supply Chain Solutions, Suraj Estate Developers and ESAF Small Finance Bank have re-filed their draft red herring prospectus (DRHPs) with market regulator Securities and Exchange Board of India (Sebi) after slashing their issue size by 20 to 60 per cent.
Investment bankers said smaller issues are a relatively easy pitch for investors. Further, they made decisions to prune the IPO size during the start of the year when market conditions were volatile and foreign portfolio invest
First Published: Aug 01 2023 | 11:10 AM IST