H1 Fund raising via IPOs up 3-fold to Rs 17,317 cr

Indian companies raised Rs 17,317 crore through initial public offerings in the first half of current fiscal, a surge of more than three times from the year-ago level, Parliament was informed on Wednesday. A large chunk (Rs 13,127 crore) of the IPO capital was raised through offer-for-sale, while Rs 4,190 crore was garnered via fresh issuance of shares, Minister of State for Finance Arjun Ram Meghwal said in a written reply to the Rajya Sabha. 

During April-September 2016, as many as 57 firms raised a total of Rs 17,317 crore through initial public offers (IPOs), higher than Rs 4,904 crore mopped-up by 39 companies in the year-ago period. Of these 57 IPOs, 42 were by small and medium enterprises (SMEs). Out of the major initial share-sale plans, five issues were of a size exceeding Rs 1,000 crore. The public issue of ICICI Prudential Life Insurance Company was the biggest. It raked in Rs 6,057 crore.