Amount Raised Via IPOs Jump 5-Fold in First Half of FY16
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Amount Raised Via IPOs Jump 5-Fold in First Half of FY16

Monday, 12 October 2015, 10:17 Hrs
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NEW DELHI: Indian companies have raised 4, 950 crore through initial public offers in the first half of the current fiscal, registering nearly 5-fold increase from the year-ago period.



According to a report by Prime Database, the April-September period, 2015-16, ended with mobilisation of 4,950 crore through IPOs, with another 12,916 crore raised through offer for sale mechanism (OFS).



This represents a near five-times increase from the same period of last fiscal in which only 1,017 crore was mobilised through IPOs.



Significantly, there were 39 IPOs during the six-month period compared to 25 in the year-ago period. Of the 39, there were 12 main IPOs mobilising 4,777 crore with the remaining 27 being SME IPOs raising 173 crore.



The largest main board IPOs were of UFO Moviez (600 crore) and Navkar Corp (600 crore) while the biggest SME IPO was of Amrapali Fincap (40 crore).



"The high OFS amount is solely due to the government disinvestment programme with 12,733 crore out of 12,916 crore (or 99 per cent) being raised in the OFS of REC (1,610 cr), PFC (1,673 cr), DCIL (53 cr) and IOC (9,396 cr)," said Pranav Haldea, Managing Director, Prime Database.



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Source: PTI

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