Indian companies raised `8,182.5 crore through initial public offerings (IPOs), as on June 2016, according to Prime Database. During the corresponding period a year ago, money raised via IPOs was `3,849.1 crore.
This year so far, 12 companies have made their debut on the exchanges with healthcare, finance & investments companies dominating issuances.
Of the 12 companies that hit the secondary markets in calendar year 2016 so far, 10 companies reported listing gains. Bengaluru-based staffing firm, Quess Corp was over subscribed 144 times; the highest oversubscription in 2016 as investors bid for 102.32 crore shares of the total 70 lakh fresh shares on offer.
Other firms like Ujjivan Financial Services, Thyrocare Technologies and Team Lease Services too saw an overwhelming response with their issues being oversubscribed between 38-41%.
In 2015, the total money raised via IPOs was `13,614 crore, an increase of over 1033.61% from 2014. Total money raised in calendar year 2014 through IPOs was `1,200.94 crore.
Calendar year 2015 saw 21 companies listing on the bourses of which 13 reported listing gains. Baring Engineers India and Monte Carlo Fashions, all the six companies that hit the secondary markets in calendar year 2014 received listing gains.
PNB Housing Finance, a subsidiary of state-owned Punjab National Bank (PNB), has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for the IPO. According to the DRHP, PNB Housing Finance plans to raise `2,500 crore though the share sale.