India News
Search Web Directory
News Home
Fund-raising via IPOs crosses Rs 31,000 cr
Posted on 7th October 2017
With the offering of Godrej Agrovert fully subscribed, fund-raising through initial public offerings (IPO) has crossed Rs 31,000 crore this year. Since the beginning of 2017, 25 companies have together raised an amount of Rs 31,996 crore. Market participants said fund-raising via IPOs could cross Rs 50,000 crore in 2017 and hit a record high.

The IPO of General Insurance Corporation (GIC Re) worth Rs 11,372 will begin on Wednesday. In the next few months at least ten companies are tipped to hit the market. These include a couple of insurance firms, a leading footwear brand and an asset management company among others.

These IPOs are expected to raise close to Rs 25,000 crore. The government will launch the IPO of New India Assurance later this month. Among the private sector companies, HDFC Life, Mahindra Logistics, and Khadims are expected to hit the markets this year.

Market participants said adequate liquidity in the market and the desire of private equity players to exit their holdings have created action in the primary market.

Listing gains and returns by newly listed companies as also the positive sentiment in the broader market are among the reasons attributed to the trend. Of the 24 companies which made their debut on the exchanges this year, 17 have listed at a premium. Avenue Supermarts, the owner of the D-Mart brand, listed at a whopping 102% above its issue price. This is the biggest listing day opening in 12 years after Nandan Exim whose stock opened at 140% premium to its issue price of `20 in June 2005.

Consumer electronics manufacturer Dixon Technologies which got listed last month listed at a premium of 54% to its issue price. Prataap Snacks which made its debut on the bourses on Thursday listed at a premium of 35%.

The newly listed companies have given good returns to investors, the BSE IPO index a gauge of newly listed companies rose by 41% year to date while the benchmark Sensex rose by 19.48% during the same period.

More than half of the total money raised through IPO was by financial services companies. BSE, HUDCO, ICICI Lombard, SBI Life, AU Small Finance Bank and CDSL are some of the financial services companies who completed their IPO in the last six months.

However, a huge chunk of funds raised through IPO was via offer for sale (OFS). The initial share sale of SBI Life and ICICI Lombard the biggest issues so far this year entirely offered for sale. While SBI Life raised Rs 8,400 crore, ICICI Lombard garnered Rs 5,700 crore.

Eris Lifesciences, BSE, and AU Small Finance Bank entirely offered for sales. The offerings of CL Educate, Shankara Building Products and S Chand and Company had a significant OFS portion.

Other Latest News
FICCI seeks privatisation of public sector banks
Posted on 19th February 2018
The government should consider privatising public sector banks (PSBs) as over Rs 2.6 lakh crore capital infusion in the past eleven years has had limited impact in improving their health, and the move would also reduce drain on the exchequer, industry body Ficci said today. The suggestion comes in the backdrop of the $1.77 billion (about Rs 11,400 crore) scam in Punjab National Bank involving billionaire jeweller Nirav Modi.

Idea now gives unlimited calls, 1GB data at Rs 109; here are all benefits
Posted on 19th February 2018
Idea Cellular has introduced a new pack that offers 1GB data and unlimited calls at Rs 109 to combat the tariff war started by Reliance and later joined by other telcos including Airtel and Vodafone among others. The new Idea Rs 109 recharge pack comes with a validity of 14 days and benefits the customer with 1GB of data, unlimited local, national, and roaming calls, along with 100 SMSes per day.

Modi launches Nasscom's platform for skill development in 8 technologies
Posted on 19th February 2018
PM Narendra Modi today launched Nasscom's platform - FutureSkills - for skill development in eight varied technologies.

Modi launched the platform via video conference during the inaugural session of the World Congress on Information Technology (WCIT)-2018.

Axis Bank follows the trend, raises MCLR by 10 basis points to 8.4%
Posted on 19th February 2018
Axis Bank has raised its Marginal Cost of Funds based Lending Rates (MCLR) by ten basis points across the three and six month, one, two and three year categories with one-year MCLR now standing at 8.4 per cent.

The bank followed other private lenders like HDFC Bank and IndusInd Bank in increasing MCLR — indicating a trend.

Microsoft’s Bing to gain as Google kills ‘view image’ button
Posted on 19th February 2018
Following Google’s removal of the “view image” button from its image search results last week, several users will move to other browsers like Microsoft’s Bing and Startpage that allow download of high-resolution images with a right click, media reported. Google, after signing a multi-year global licensing deal with Getty Images, removed the “view image” button — a move set to curb the lifting of copyrighted images from its platform.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Fund-raising via IPOs crosses Rs 31,000 cr
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Fund-raising via IPOs crosses Rs 31,000 cr

Most Read News

DLF's Q3 net sales bookings soar 78% to Rs 480 crore

RIL to invest in mobile making unit at Tirupati

BSNL offers new prepaid plan with 1GB data per day, free calling for 6 months at this rate

India regain No. 1 spot in ICC ODI ranking and they are there to stay

Sebi to meet rating agencies on faster access to default data

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018
    All Rights Reserved
Privacy Statement