Indian firms to raise $3.3 Billion through IPOs
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Indian firms to raise $3.3 Billion through IPOs

Friday, 31 July 2009, 02:42 Hrs
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New Delhi: Buoyed by the recent surge in capital markets, India firms are planning to raise $3.3 billion (16,000 crore) through initial public offerings (IPOs) this fiscal, an industry lobby report said Thursday.

"The companies are weighing higher expectations from renewed investor's sentiments to raise funds from the primary market," Assocham president Sajjan Jindal said.

The Assocham Financial Pulse (AFP) analysis of the emerging IPO trends said companies in the infrastructure, IT, hospitality and textile sectors would issue IPOs to raise funds.

The infrastructure sector hopes to mop up 10,000 crore from the primary market, the report said.

Among the infrastructure sub-sectors, power sector is a leading fund raiser with an estimated 6,236 crore to be raised from IPOs.

National Hydroelectric Power Corp (NHPC), Adani Power, Indiabulls Power and Usher Eco Power Ltd are the leading power companies that will issue IPOs.

In the energy sector, Oil India is looking to raise 1,400 crore from the market.

JSW group will likely rise 1,000 crore for its infrastructure and logistics business, said the study.

Housing majors ARSS Infrastructure Projects and Godrej Properties are the other leading infrastructure firms looking for raising funds from market.

According to Assocham, the IT industry would likely raise 4,858 crore through public offer, while the hospitality and textiles sectors are looking for raising 301.12 crore and 275 crore, respectively.
Source: IANS
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