Fund mobilisation through initial public offers (IPOs) has touched a record high of Rs 13,559 crore in the current calendar year so far, surpassing the previous peak of Rs 13,121 crore during 2004. |
With Cairn Energy proposing to mop up Rs 6,200 crore early next month, the total initial public offer amount this year is set to reach Rs 19,559 crore. |
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The sum already raised in the current year via public issues is 36 per cent more than Rs 9,990 crore garnered in 2005. |
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The initial public offer market picked up after a brief lull in May and June this year, with 24 companies mobilising Rs 4,532 crore between August and November. |
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Between May and July, five maiden offers hit the market to raise Rs 1,639 crore. |
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The Rs 2,784 crore collected by six IPOs in the current month happens to be the largest such amount since the rebound in the equities market. In April this year, the same number of maiden floats mopped up Rs 3,492 crore. |
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The sectors that led the way into the primary market were construction, engineering and media & entertainment. |
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Two housing construction companies "� Parsvanath Developers (Rs 1,090 crore) and Sobha Developers (Rs 489 crore) "� garnered a total of Rs 1,579 crore from the primary market, while seven civil and turnkey construction players raised a total Rs 1,468 crore. |
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The latter group included GMR Infrastructure (Rs 789 crore), Unity Infraprojects (Rs 232 crore), BL Kashyap (RS 200 crore) and Gayatri Projects (Rs 86 crore). |
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In the media and entertainment sector, Sun TV (Rs 603 crore), Entertainment Network (Rs 214 crore), Inox Leisure (Rs 198 crore) and Prime Focus (Rs 115 crore) mobilised Rs 1,130 crore. |
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While five technology players mopped up Rs 711 crore, three non-banking finance companies raised Rs 490 crore and four steel companies garnered Rs 379 crore from the primarily market. |
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According to Prime Database, in terms of number of issues, the current year's figure is the highest for the last six years. |
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Incidentally, a total of 123 companies had raised Rs 2,953 crore through IPOs during the technology boom in 2000. |
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