Bharti Infratel, PC Jeweller eye over Rs 5,000 cr through IPOs
After months of lull in the IPO activity, two public offers - by telecom tower company Bharti Infratel and PC Jeweller - will hit the capital market this week to raise over Rs 5,000 crore.
Bharti Infratel, the tower arm of the country's leading telecom service provider Bharti Airtel, is planning to hit the market on December 11 with an Initial Public Offer to raise around Rs 4,500 crore.
Besides, PC Jeweller Ltd would launch its IPO on December 10 to raise Rs 609 crore.
The IPO of rating agency Care Ratings has already hit the market to garner Rs 540 crore. The bidding began for this public issue last week. The proceeds from the IPO would be used to fund expansion and working capital requirements.
Market experts believe the revival of the primary market is a positive sign, reflecting improvement in investor sentiment. In case bigger issues are successful, it would
further enhance the sentiment, they said.
"Primary market activities depend on secondary market, and its a best time to launch an IPO as the market is very good," Wellindia Executive Director Hemant Mamtani said.
"These three issues are by well known firms and I expect that their IPOs would be fully subscribed," he added.
So far in 2012, as many as six companies – MCX, National Buildings Construction Corp (NBCC), Tribhovandas Bhimji Zaveri, Speciality Restaurants, VKS Projects and MT Educare -- have come out with their IPO.
However, two firms -- Samvardhana Motherson Finance and Plastene India had to withdraw their public issues.
Bharti Infratel IPO comprises 18.89
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