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IPOs, rights issues mop-up at Rs 19k-cr in Oct

According to data released by Sebi, initial public offers and rights issues raked in a whopping Rs 19,109.7 crore in October - a four-fold jump from September.

twitter-logo PTI   Mumbai     Last Updated: December 14, 2010  | 17:10 IST

Initial public offers (IPO) and rights issues by India Inc raked in a whopping Rs 19,109.7 crore in October, a near four-fold jump vis-a-vis the mop-up in the previous month.

The amount was mobilised through seven offers, including five initial public offers (IPOs).

Corporates had raised Rs 4,802.4 crore in September, when a total of six offers - three IPOs and three rights issues - came up, market regulator Securities and Exchange Board of India (Sebi) said.

"During October, we mobilised Rs 19,109.7 crore in the primary market through seven issues, compared to Rs 4,802.4 crore mobilised through 18 issues in September," said the latest issue of the Capital Market Review released by Sebi.

A major reason for the massive jump in IPO and rights issue collections in October was Coal India's highly successful IPO, which garnered over Rs 15,000 crore.

During October, the number of qualified institutional placement (QIPs) issues also went up to 11 from seven in the previous month. The amount raised from QIPs rose over 92 per cent in October, to Rs 4,292 crore, from Rs 2,227 crore in September, Sebi added.

While 10 of the QIPs launched in October were placed on both the Bombay Stock Exchange and the National Stock Exchange, one was exclusively on the BSE.

The number of preferential allotments also went up during October, with Indian companies raising a total of Rs 5,720 crore, an increase of over 61 per cent vis-a-vis the previous month.

There were 16 preferential allotment issues held in September, which raised a total of Rs 3,543 crore.

In October, the stock markets witnessed lot of volatility, but BSE benchmark Sensex ended almost flat.

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