New Delhi, Jan 3 : A total of 57 Indian corporates raised Rs 49,434 crore through main board IPOs in 2023, 17 per cent lower than the Rs 59,302 crore mobilized by 40 IPOs in 2022, according to Prime Database. However, excluding the mega LIC IPO, which came out in 2022, the IPO mobilisation increased by 28 per cent from last year. The overall response from the public, according to Prime Database, was excellent. Of the 57 IPOs, 41 IPOs received a mega response of more than 10 times (of which 16 IPOs got more than 50 times) while nine IPOs were oversubscribed by more than three times. The balance seven IPOs were oversubscribed between 1 to 3 times. In comparison to 2022, the response of retail investors also increased tremendously. The average number of applications from retail increased to 13.21 lakh, in comparison to 5.66 lakh in 2022. The highest number of applications from retail were received by Tata Technologies (52.11 lakh) followed by DOMS Industries (41.30 lakh) and INOX India (37.34 lakh). The amount of shares applied for by retail by value (Rs 1,49,988 crore) was 203 per cent higher than the total IPO mobilisation (in comparison to being 22 per cent lower in 2022) again showing a much higher level of enthusiasm from retail during the period. The total allocation to retail, however, was Rs 13,749 crore which was 28 per cent of the total IPO mobilisation (slightly down from 29 per cent in 2022). (Sanjeev Sharma can be reached at Sanjeev.s@ians.in) /IANS