Cos raise Rs 1.0t thru' primary markets in 2009-10: SEBI
Monday, 31 May 2010
MUMBAI, May 30 (PTI): Companies mopped up Rs one trillion through primary markets during 2009-10, six times more than Rs 164.8 billion raised in the previous fiscal when the economy came under the impact of global financial meltdown.
There were 138 issues in all during 2009-10 against just 49 during the previous year, SEBI said in its monthly bulletin.
Of these 138 issues, there were 39 IPOs and five follow-on public offers (FPOs) that helped the companies raise over Rs 440 billion.
The money raised through IPOs stood at about Rs 246.96 billion, while Rs 200.41 billion was collected through follow on public offers.
Some of the big private firms which hit the market in 2009-10 include Jaypee Infratech, DB Corp, Godrej Properties, JSW Energy and Indiabulls Power.
Besides, the government had raised Rs 250 billion through stake sale in PSUs like Oil India, NMDC, REC and NTPC.
In September 2008, US investment bankers Lehman Brothers collapsed which led to recession in many developed economies, including US.
In 2009-10, the biggest jump was witnessed in the fund mobilised through Qualified Institutional Placements (QIPs) route.
Companies have raised Rs 427.29 billion through QIPs in the last fiscal compared to Rs 1.89 billion through the same route in 2008-09.
There was, however, a decline in the money raised through the rights issues in 2009-10, although the number of such issues increased.
Through 29 rights issues during April-March 2009-10, companies raised just about Rs 83.18 billion, down from Rs 126.37 billion in 2008-09.
For the current fiscal, country's top investment banking and brokerage firm ICICI Securities had said that the government and private companies are eyeing about Rs one trillion through share sale.
Besides, the government's disinvestment target of Rs 400 billion through initial and follow-on public offers of state-run firms this fiscal, the promoters of private sector companies could raise a similar amount through public offers.
There were 138 issues in all during 2009-10 against just 49 during the previous year, SEBI said in its monthly bulletin.
Of these 138 issues, there were 39 IPOs and five follow-on public offers (FPOs) that helped the companies raise over Rs 440 billion.
The money raised through IPOs stood at about Rs 246.96 billion, while Rs 200.41 billion was collected through follow on public offers.
Some of the big private firms which hit the market in 2009-10 include Jaypee Infratech, DB Corp, Godrej Properties, JSW Energy and Indiabulls Power.
Besides, the government had raised Rs 250 billion through stake sale in PSUs like Oil India, NMDC, REC and NTPC.
In September 2008, US investment bankers Lehman Brothers collapsed which led to recession in many developed economies, including US.
In 2009-10, the biggest jump was witnessed in the fund mobilised through Qualified Institutional Placements (QIPs) route.
Companies have raised Rs 427.29 billion through QIPs in the last fiscal compared to Rs 1.89 billion through the same route in 2008-09.
There was, however, a decline in the money raised through the rights issues in 2009-10, although the number of such issues increased.
Through 29 rights issues during April-March 2009-10, companies raised just about Rs 83.18 billion, down from Rs 126.37 billion in 2008-09.
For the current fiscal, country's top investment banking and brokerage firm ICICI Securities had said that the government and private companies are eyeing about Rs one trillion through share sale.
Besides, the government's disinvestment target of Rs 400 billion through initial and follow-on public offers of state-run firms this fiscal, the promoters of private sector companies could raise a similar amount through public offers.