IPO mobilisation touches 9-year high in H1 of FY17

By: | Updated: September 30, 2016 7:14 AM

Money raised from initial public offerings (IPOs) in the first half of FY17 touched a 9-year high at R17,283 crore, data from Prime Data shows.

ICICI Prudential Life sharesThe Rs 6,057-crore issue of ICICI Prudential Life Insurance was the biggest IPO during the period. (Reuters)

Money raised from initial public offerings (IPOs) in the first half of FY17 touched a 9-year high at Rs 17,283 crore, data from Prime Data shows. This is the highest amount raised in the last nine years, the last high being in 2007-08 at Rs 21,244 crore. As many as 56 companies debuted on the exchanges during the period, a three-fold increase from the corresponding year which saw 39 companies listing on the exchanges.

Of the 56 IPOs, there were 15 main board IPOs mobilising R16,924 crore with the balance 41 being SME IPOs mobilising a small Rs 358 crore.

The Rs 6,057-crore issue of ICICI Prudential Life Insurance was the biggest IPO during the period. Among the IPOs of SMEs, the issue of Radhika Jeweltech which raised Rs 47 crore was the biggest.

In the retail investor category, the issue of Larsen & Toubro Infotech received 10.25 lakhs bids, making it the best performer. This was followed by issues of RBL Bank and Mahanagar Gas, which saw retail investors bidding for more than 9 lakh shares.

IPOs received a strong response through out categories, some of the issues that got mega response included Advanced Enzyme Technologies and Quess Corp, which was subscribed more than 80 times followed by Thyrocare Technologies which was subscribed 52 times.

However, only 19% or Rs 4,019 crore of the total amount raised in the first half was raised through fresh capital. As many as 16 companies planning to raise Rs 5,745 crore are holding Sebi approval.

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