“Zerodha’s Nithin Kamath Applauds Vibrant IPO Week, Spotlights Market Transformation”
Zerodha’s Nithin Kamath praises the bustling IPO activity in a mega IPO week, highlighting the market evolution and significant improvements in IPO listing timelines, as the NSE witnesses a surge in IPOs worth ₹7,600 crore amidst enthusiastic investor participation.
Nithin Kamath, the co-founder of Zerodha, expressed admiration for the bustling activity in the stock market during a substantial IPO week, praising the seamless listing process and market evolution.
The National Stock Exchange (NSE) witnessed a momentous week with the debut of five initial public offerings (IPOs), notably including the highly anticipated Tata Technologies IPO. Nithin Kamath, the top executive at Zerodha, lauded the hassle-free listing of these IPOs, reflecting on the impressive surge in market activity. He emphasized the significant shift in IPO market dynamics, with a staggering ₹7,600 crore worth of IPOs driving considerable interest and engagement.
Taking to X (formerly Twitter), Kamath highlighted the striking contrast between the IPO listing process in 2003 and the present scenario, illustrating that if the same IPO activity occurred in 2003, it would have taken approximately 16 working days for the funds to transition, incurring additional costs and time for investors. He further noted the evolution of the IPO listing timeline, which has significantly reduced from T+16 to T+3 (~1 week) since September 2023, enabling funds to stay within bank accounts until allotment.
Kamath underlined the positive impact of SEBI’s revised regulations, particularly the T+3 timeline, effective from September, mandating IPO listings within three working days from bid closure. He acknowledged the favorable changes in capital market regulations over the past two decades, particularly within the last five years.
The notable highlight of the IPO week was the much-awaited Tata Technologies IPO, marking the Tata Group’s first IPO in two decades. Additionally, Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd., and Indian Renewable Energy Development Agency (IREDA) contributed to the eventful week, collectively garnering investor bids worth ₹2.59 lakh crore amidst IPOs valued at around ₹7,600 crore.
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