Collections from initial public offerings (IPOs) could hit an estimated Rs 1.3 lakh crore in Samvat 2081, topping the record mop-up of Rs 1.13 lakh crore in Samvat 2080. Available information from Prime Database reveals the IPO pipeline is a big one. While 29 companies have already received approval from the Securities and Exchange Board of India (SEBI) to raise around Rs 48,425 crore, another 59 companies are awaiting the regulator’s nod to tap the primary market for approximately Rs 80,408 crore.
Among the first IPOs in Samvat 2081 will be that of food-delivery and quick commerce player Swiggy, which is scheduled to open on November 6.
Others that are expected to hit the market during the course of the year include National Stock Exchange (NSE), National Securities Depository (NSDL), Vishal Mega Mart, NTPC Green Energy, ONGC Green Energy, and Satluj Jal Vidyut Nigam (SJVN).
Also ReadMarkets begin Samvat 2081 on a positive note
Samvat 2080, which ended on Thursday, saw 83 companies raise funds from the primary market. Thanks to a strong secondary market, the sentiment in the IPO market too was bullish as investors reaped huge listing gains. The year marked the country’s biggest-ever primary fund-raise as Korean carmaker Hyundai Motors picked up Rs 27,000 crore.
Subscriptions to IPOs touched new levels. For example, the Waaree Energies IPO attracted over 9.7 million applications — setting a new benchmark — while Bajaj Housing Finance’s IPO received nearly 9 million applications. The Waaree Energies IPO attracted a record-breaking Rs 2.41 lakh crore in subscription for its Rs 4,321-crore offering. But that was bettered by Bajaj Housing Finance which received bids worth Rs 3.2 lakh crore for its Rs 6,560-crore offering. The rush for shares was justified by the stellar listings; barring a few companies, stocks listed at high premiums to their issue prices.
Pranav Haldea, managing director, Prime Database group, observed that the Hyundai IPO was a landmark in terms of its size, adding the fact that it was fully subscribed showcased the depth of the Indian capital market. “Primary market activity is a function of the secondary market. A bull run in the secondary market always results in IPO activity,”Haldea said.
Other major debuts in Samvat 2080 included Bharti Hexacom, Indian Renewable Energy Development Agency (IREDA),
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