The primary market has remained subdued so far in calendar year 2023 (CY23) with just three mainboard initial public offers (IPOs) hitting the Street -- Divgi TorqTransfer System, Avalon Technologies, and Mankind Pharma.
Two of these three IPOs, however, failed to generate interest among retail investors, who have been at the forefront of the primary market activity since 2020.
Mankind Pharma's IPO, for instance, saw 92 per cent subscription by retail investors, while Avalon Tech's retail quota was subscribed 88 per cent.
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