Amount Raised Via IPOs Jump 5-Fold in First Half of FY16
He added that it is extremely positive to see action on the divestment front in the first half of the fiscal, a period where traditionally small amounts have been raised by the government in the last several years.
"This is the highest amount ever raised in the first half through government disinvestment, the next highest being 4,035 crore raised in 2009-10," Haldea said.
Even though a general positive sentiment has prevailed in the market, we are yet to see large IPOs hitting the market. The pipeline though looks promising, he added.
At present, 19 companies planning to raise 11,545 crore are holding SEBI approval and another 17 companies intending to raise 6,795 crore have filed with SEBI and are awaiting approval.
In all, there were seven OFS (previous corresponding period 2015), which mobilised 12,916 crore (previous year 2,593 crore).
Only 16 per cent of the total amount raised in the first half (or 2,918 crore) was through fresh capital, which typically goes into creation of productive assets.
The remaining 14,949 crore was raised through offer for sale where the proceeds go to the sellers - government, promoters, venture funds and other investors and not to the company, the report said.