'Market slide will hit pricing of IPOs, but won't stop them'

The recent slide in the market for six consecutive days will affect the pricing at which new issues come to the market, but will not impact the decision of these companies to tap the opportunity, investment ban-kers and fund managers said.

- Sneha Shah,Ranjani Raghavan

The Israel-Hamas war and rising bond yields has led to a 4.5% fall in the market (BSE) since 17 October.

Around half a dozen companies such as Mamaearth, Tata Technologies, Flair Writing Industries, Cello World, Esaf Small Finance Bank, Blue Jet Healthcare, Protean eGov Technologies and Ask Automotive Ltd have lined up their public listing ahead of Diwali. Diwali starts on 10 November. A number of other companies—including micro finance companies—have also lined up IPOs just after Diwali. Federal Bank Financial Services (Fedfina), Jana Small Finance Bank, Fincare Microfinance, DOMS Industries, Western Carriers, and Park Hotels are likely to raise capital in November or December from the capital markets.

These companies are looking to mop up ₹6,000 crore from public issues pre- and post-Diwali, Mint reported.