NEW DELHI: The IPO market seems to have remained untouched by the bullish sentiments in the overall stock markets, as less than Rs 550 crore have been raised collectively by 23 companies through their respective initial public offers so far in 2014.

Besides, just one IPO is currently underway, wherein Sharda Cropchem is aiming to raise over Rs 350 crore through a public offer scheduled to close.

An analysis of all IPOs that have hit the market so far this year shows that most of these public offers were on the Small and Medium Enterprise (SME) platforms of BSE and NSE and their main platforms have hosted only two IPOs in this period.

Together, these 23 IPOs have resulted in fund-raising to the tune of Rs 538 crore, shows the analysis.

This is despite a positive sentiment prevailing in the capital markets during most part of 2014. Making things worse, many companies did not launch their offers after doing all the groundwork and obtaining the necessary approvals, while some companies even withdrew their offers after poor response.

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