Only 26% of IPO funds going to capex, BoB Study reveals

A Bank of Baroda study reveals that only about a quarter of equity raised through IPOs is allocated for capital expenditure. Most funds are used for debt repayment, subsidiary investments, and working capital, with a significant portion of IPOs being offer-for-sale by existing shareholders, raising concerns about the purpose of public markets.

from Economic Times https://ift.tt/aqHb0zV