The initial public offer (IPO) market has been lackluster this year amid volatility due to the COVID-19 pandemic. In 2019, 16 companies launched their IPOs raising over Rs 12,000 crore, and 2020 was expected to be a rebound year.

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But the markets are still awaiting listing worth over Rs 33,500 crore this year. A number of companies that have received regulatory approvals have also postponed their IPOs, waiting for a recovery in the indices.

Thirty-four companies, which have received approvals for initial public offerings (IPOs) totaling Rs 33,516 crore, are yet to tap stock markets, Mint reported.

Only 3 IPOs have launched in 2020, SBI Cards IPO, Rossari Biotech Ltd, and Mindspace Real Estate Investment Trust.

Companies that launched IPOs last year included IRCTC, CSB Bank, Ujjivan Small Finance Bank, Prince Pipes, IndiaMart, Neogen Chemicals, Rail Vikas Nigam, Sterling, and Wilson Solar, and Affle India among others.

For four months till July, the primary market remained quiet as companies feared a poor listing due to COVID-19. Though 2020 is not expected to go as earlier forecasted there are still a few IPOs in the pipeline for the year including UTI Asset Management Co. Ltd, Angel Broking.

The latter half of the year is expected to see new IPO launches as the stellar debut by Rossari Biotech in July instilled faith in the investors. The stock received about a 74 percent premium over its issue price. It was subscribed about 79 times on the last day of its bidding.

Then in August, the Rs 4,500 crore IPO of Mindspace REIT witnessed a subscription of 13 times on the final day of its bidding. The company's listed at over 10 percent premium to issue price.

Come September, UTI’s is going to launch Rs 4,000 crore-IPO planned. It is the 7th largest mutual fund in India and had received Sebi's nod for an IPO in June. The IPO was supposed to hit markets in August but has been delayed and is now expected to launch in September. The company is likely to raise about Rs 3,500 crore from the market, likely to be priced at Rs 850-900 per share.

Lodha Developers also planned to launch its IPO in July, which was postponed later. The Mumbai-based real estate developer is said to raise about Rs 3,300 crore from the IPO.

Food chains Barbeque Nation and Burger King will also launch their IPOs this year. Barbeque Nation is expected to release fresh issue of shares worth Rs 275 crore while Burger King will issue fresh equity shares worth Rs 400 crore with an offer for sale of up to 6 crore shares.

Apart from this, National Commodity and Derivatives Exchange Ltd (NCDEX) also plans to launch the Rs 500-crore IPO in 2020. The company received market watchdog's approval in April this year.

Equitas Small Finance Bank also filed papers for its Rs 1,000 crore IPO in December last year and received its approval from SEBI by March 2020. The IPO was supposed to be launched on March 3 but gt deferred due to coronavirus-led weak market conditions.

Monte Carlo, Home First Finance Company, EaseMyTrip, Computer Age Management Services (CAMS), Bajaj Energy, and Angel Broking are some other companies whose IPOs are expected to launch this year.