‘Matter of great pride’: Madhabi Puri Buch says India IPO issuances rank No.1 in global league tables

Chairperson of the Securities and Exchanges Board of India (SEBI) Madhabi Puri Buch said it is a matter of great pride for Indians that the country has ranked number one on the global league tables of initial public offerings (IPOs) to have the highest number of IPO's, at a FICCI conference on Friday, August 2.

“It is a matter of great pride to us that in the global league tables, India ranks number one on the total number of IPOs and issuances anywhere in the world,” said Madhabi Puri Buch at the annual Federation of Indian Chamber of Commerce and Industry conference in Mumbai on Friday.

“It's almost one every trading session,” said Buch.

Buch also talked about the Indian equities market's compounding growth rate, which she weighed against other significant economies, and how Indian indices beat the estimates. She reiterated that the total amount of funds is still yet to catch up with the major economies.

"If you look at the growth rate, a 49 per cent compounded growth rate over the last five years there is nobody equaling our growth rate,” she said. “The quantum of funds raised is still to catch up with the larger economies, i.e., the US and China," said Buch.

Buch said it is a matter of great pride to be a part of this ecosystem which allowed India to put a mark on the global stage. SEBI is working towards a “template fill-in-the-blank IPO document,” which aims to simplify the Draft Red Herring Prospectus (DRHP) filing process. In case of any complications, there will be an option of a separate column for companies to articulate their complications in writing, she said.

The SEBI Chairperson also commented on the mechanism of returning the draft papers, which comes from an internal inconsistencies point of view. In case of any kind of conflict found under investigation, the capital markets regulator is sending back the documents. This entire process is started to expedite the process of faster approval of new and correct filings from the Indian corporates, she said.