The contribution considers problems and prospects of using initial public offering by Russian corporations to attract financial resources. In comparison with other sources of financial resources, the distinctive features of this instrument, prospects and limitations of its application were identified. The study also conducted a quantitative and qualitative analysis of the current financial results of companies that placed their shares in 2023. Conclusions were obtained that the initial public offering can become an effective source of financing only for those companies that operate in those industries that are significant for the Russian economy in the current geopolitical conditions, or for those companies that have an innovative product or technology. The current measures taken by the mega-regulator are analyzed, and the authors’ recommendations for overcoming significant institutional constraints are presented. Research on this topic may be useful both for the management bodies of companies that are considering the possibility of using this instrument to attract financial resources, and for other researchers analyzing the Russian initial public offering market.