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2013-10-15

India SMEs mops up Rs 1,050 cr through IPOs

India Inc mopped up a total Rs 1,050 crore through initial public offers (IPOs) in the first half of 2013-14, sharply up by 36 per cent over the same period of the last fiscal.

India Inc mopped up a total Rs 1,050 crore through initial public offers (IPOs) in the first half of 2013-14, sharply up by 36 per cent over the same period of the last fiscal.

 

According to Prime Database, leading database on primary capital market, 16 firms collectively raised Rs 1,050 crore via IPO route in the six months ended September 30, 2013.

 

In the first half of 2012-13, as many as 13 companies had raked in Rs 772 crore capital through IPOs.

 

Interestingly, of the 16 IPOs, which hit the capital market in the first half of the current fiscal, 15 were SMEs.

 

There was only one non-SME IPO, (Just Dial that garnered Rs 919 crore), which accounted for 87 per cent of the total mobilisation.

 

Among sectors, information technology space dominated with three firms mopping up Rs 1,927 crore, which is 29 per cent of the total amount garnered.

 

Market experts attributed the reason for big companies avoiding the IPO route to rake in funds to an uncertain and volatile equity markets, coupled with a lack of appetite among retail investors.

 

In terms of the method of offering, only 1 of the 16 IPOs of the period, were through the book-building route, with balance 15 SME issues through the fixed price method. The facility of anchor investors was used by one company.

 

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