The significance of IPOs

There was a marked decline in the number of IPOs and amount raised through them in 1996-97, largely as a result of the stricter eligibility criteria for public issues imposed by SEBI. Out of 753 public issues made during 1996-97, there were 717 initial public offerings by unlisted companies raising Rs.5,958.60 crore. During 1995-96, there were 1,357 initial public offerings for Rs.10,924.11 crore.