Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year.
Haldea said the largest main-board IPOs were the One97 Communications issue of Rs 18,300 crore, followed by delivery app Zomato at over Rs 9,300 crore.
Of the 59 issues for which data is available now, 36 received more than 10 times oversubscription, of which six were more than 100 times, while eight were oversubscribed by more than three times.
This had the amount of shares applied for by retail at a huge 135 per cent of the IPO mobilisation .
While the average listing gain was 32 per cent, compared to 44 per cent in 2020 and 19 per cent in 2019.
On another note, 25 of the 63 issues had a prior PE/VC investment leading to massive offers for sale by them worth Rs 24,106 crore, accounting for 20 per cent of the total IPO amount.