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Teluguhero Side Hero Username: Teluguhero Post Number: 2814 Registered: 04-2008 Posted From: 76.106.197.158 Rating: |
https://www.moneycontrol.com/news/business/india-inc-raised- 3-8-bn-through-19-ipos-in-jan-jun-this-year-2724731.html 'India Inc raised $3.8 bn through 19 IPOs in Jan-Jun this year' As per the report, $3.8 billion was raised across 19 IPOs during the first six month of this year with values increasing by nearly three fold over the corresponding period last year (January2017 -June 2017). Corporate India raised $3.8 billion through 19 IPOs in the first half of this year, largely driven by stable equity markets, says a report. According to Grant Thornton, increased activity in the IPO space is expected as the IPO ecosystem is evolving at a rapid pace and several companies are looking to list this year. As per the report, $3.8 billion was raised across 19 IPOs during the first six month of this year with values increasing by nearly three fold over the corresponding period last year (January 2017-June 2017). The biggest public issue was floated by Bandhan Bank, which raised $699 million followed by Hindustan Aeronautics ($661 million) and ICICI Securities Ltd ($618 million). The top sectors that raised IPOs in the first half of this year were manufacturing, with seven companies raising $0.6 billion, followed by banking, with three companies raising $1.6 billion. The report further noted that 25 Indian firms have mobilised around $2 billion by issuing shares to institutional investors during first half of this year, a 23 percent drop from January-June 2017. The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes. Notable big ticket QIPs witnessed this year included Idea Cellular ($547 million), Housing Development Finance Corporation Limited ($296 million), Jindal Steel & Power Limited ($188 million) and L&T Finance Holdings Limited ($156 million), the report said. Sector-wise, banking and telecom sector companies raised 60 percent of total capital through this route on the back of four big ticket transactions, it added. |
