Initial Public Offers (IPOs) have been one of the most popular avenues of raising funds for companies in India. However, in the last few years this fund raising avenue has been witnessing a fall, including declining participation from retail investors as well and it is also in line with the global trend. The reasons for this falling trend are numerous including gaining popularity of alternate avenues to raise funds such as Private Equity, lower listing gains, the fact that investment in India is at a seven year low etc. Another possible reason why IPOs have lost flavour with investors including HNIs and retail investors could be the existence of opportunity to invest in pre IPO, which is purchasing shares of a company that is unlisted and waiting for it to list and capitalizing on the gains from listing. We also take an in depth look at the break up of IPOs year by year including how the political environment prevailing in the country affects it and our hosts, HW News Business and Finance editor Mr. Akhilesh Bhargava and Mr. Apoorva Vora from Finolutions Wealthcare LLP analyse the reasons for the lacklustre performance of this once popular medium for raising funds from the market.