The trend is similar to what is happening in markets abroad. Reuters data shows, in the US, which makes up a quarter of global deal volume, notable public issues included language instruction company Rosetta Stone Inc and restaurant reservations system OpenTable Inc, which soared in their debuts.
In India, the rise occurred in the mutual fund space, too. The new fund offer from Reliance Infrastructure Fund has garnered around Rs 3,000 crore from retail and institutional investors, though the official numbers are yet to be released. The Mahindra issue, the price of which was in the range of Rs 275 Rs 325, received bids for 67.39 million shares against the issue size of 9.26 million shares.
This is the first IPO of over Rs 100 crore after August 2008, when Resurgere Mines & Minerals India had just about managed to raise Rs 120 crore. So far in this calendar year, only two issues had hit the market, together mobilising Rs 47 crore from the primary market, which includes Rishabhdev Technocables Ltd with an issue size of Rs 22.61 crore and Eduserve Softsystems Ltd with an issue size of Rs 23.84 crore.