IPO juggernaut rolls on

The public issue market, still relishing the gains from the Coal India IPO, remains upbeat with about 100 issues expected in 2011.

Money Today        Print Edition: February 2011

The public issue market, still relishing the gains from the Coal India IPO, remains upbeat with about 100 issues expected in 2011.

  • Public issues are likely to remain robust in 2011. The prospectus pipeline indicates a total IPO size of about Rs 90,000 crores this year.
  • The Rs 60-crore IPO of Midvalley Entertainment in January 2011 received bids for 3.77 crore shares compared with the 93.75 lakh shares that were on offer.
  • The IPO of Diamond jewellery company C. Mahendra Exports, which closed on 6 January, was oversubscribed 2.78 times. The issue has received bids for 4.17 crore shares against an issue size of 1.5 crore shares.
  • Rs 71,114 crore was raised through 70 public issues in 2010. Of this, Rs 39,710 crore was raised through 62 IPOs while Rs 31,403 crore was raised through FPOs.
  • Coal India IPO, Power Grid FPO and Manganese Ore IPO became the first trio of public issues to attract applications in excess of one million each in Indian corporate history.
  • In 2010, the private sector raised Rs 21,168 crore (29.8 per cent of the total) through public issues, while the public sector raised about Rs 49,946 crore (70.2 per cent).

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