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India Inc raised all-time high of Rs 1.88L cr through public equity markets
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SME Times News Bureau | 30 Mar, 2021
Despite the entire financial year 2020-21 being overshadowed by the
pandemic, Indian corporates raised an all-time high amount of Rs 1.88
lakh crore through public equity markets.
This was more than
double of the Rs 91,670 crore that was raised in 2019-20, according to
Pranav Haldea, Managing Director, PRIME Database Group, India's premier
database on the capital markets. The previous highest amount raised in a
financial year was Rs.1.75 lakh crore in 2017-18.
According to
Haldea, contrary to the despondency due to the pandemic, 30 main-board
IPOs came to the market collectively raising Rs 31,268 crore. This was
an increase of 54 per cent from the Rs 20,350 crore raised through 13
IPOs in 2019-20.
The largest IPO in 2020-21 was from Gland Pharma for Rs 6,480 crore. The average deal size was Rs 1,042 crore.
The
overall response from the public to the mainboard IPOs of the year,
according to primedatabase.com, was very good. 18 IPOs received a mega
response of more than 10 times while 4 IPOs were oversubscribed by more
than 3 times and the balance 8 IPOs were oversubscribed between 1 to 3
times.
As far as retail investors are concerned, the year
witnessed tremendous response from them. The highest number of
applications was received by Indigo Paints (25.88 lakh) followed by Mtar
Technologies (25.87 lakh) and Mazagon Dock (23.56 lakh).
According
to Haldea, response to IPOs was further buoyed by strong listing
performance of IPOs of the year. Of the 28 IPOs which got listed, 19
gave a return of over 10 per cent (based on closing price on listing
date). Burger King gave a stupendous return of 131 per cent followed by
Happiest Minds Technologies (123 per cent) and Indigo Paints (109 per
cent). Moreover, 18 of the 28 IPOs (listed thus far) are trading above
the issue price (closing price of 26th March, 2021).
The IPO
pipeline continues to remain strong with 18 companies holding SEBI
approval proposing to raise nearly Rs 18,000 crore and another 14
companies are awaiting SEBI approval to raise nearly Rs 23,000 crore.
Offers
for Sale through Stock Exchanges (OFS), which is for dilution of
promoters' holdings, saw an increase, from Rs 17,326 crore raised in
2019-20 to Rs. 30,114 crore$ raised in 2020-21. Of this, the
Government's divestment accounted for Rs 19,927 crore or 66 per cent of
the overall amount). The largest OFS was that of Tata Communications (Rs
5,386 crore) followed by Hindustan Aeronautics (Rs 4,961 crore) and
IRCTC (Rs 4,408 crore). OFS accounted for 11 per cent of the total
year's public equity markets amount.
FPOs made a comeback after
several years. This was primarily on account of the mega Yes Bank FPO
which raised Rs 15,000 crore. Overall, 2 companies mobilized Rs 15,029
crore through FPOs.
31 companies mobilized Rs 78,731 crore
through QIPs, highest ever in a financial year. This was 54 per cent
higher than Rs 51,216 crore raised in the previous year. The largest QIP
of 2020-21 was from ICICI Bank raising Rs 15,000 crore, accounting for
19 per cent of the total QIP amount. QIPs were dominated by banks, NBFCs
and real estate companies with them accounting for 84 per cent (Rs
66,141 crore) of the overall amount.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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