In Charts: It's raining IPOs, literally! In less than 3 months, 13 issues raise Rs 16,000 crore
Most of the IPOs listed so far in 2021 have witnessed strong listing. For instance, MTAR Technologies, an engineering company, listed at 84 percent premium to its issue price of Rs 575.
March 15, 2021 / 05:10 PM IST
So far in the calendar year 2021, as many as 13 companies have raised about Rs 16,000 crore through their initial public offerings (IPO). Indian equities have traded higher; however, they have witnessed bouts of volatility as well. But, the bullish momentum has set the stage for companies to raise capital through IPOs. In the corresponding period last year, only one IPO had hit the bourses - SBI Cards and Payment Services, whose issue size was Rs 10,355 crore. During the entire 2020, around Rs 31,000 crore were raised via 15 IPOs.
Most of the IPOs listed so far in 2021 have witnessed strong listing. For instance, MTAR Technologies, an engineering company, listed at 84 percent premium to its issue price of Rs 575. Similarly, paint manufacturing company, Indigo Paints made a stock market debut with 75 percent premium over its issue price of Rs 1,490, while Nureca Limited, a healthcare and wellness products distributor company, listed at 58 percent premium to its issue price of Rs 400.
Funds raised by IPOs so far in 2021: About 13 companies have raised around Rs 16,000 crore via public offers. Indian Railway Finance Corporation (IRFC), a public-sector enterprise, has raised about Rs 4,633 crore - the highest in 2021 so far. Second on the list is Brookfield India Real Estate Trust, India's only institutionally managed public commercial real estate company, that raised Rs 3,800 crore.
Upcoming IPO: Kalyan Jewellers India's Rs 1,175-crore issue opens on March 16 and will close on March 18. The offer comprises a fresh issue of Rs 800 crore and an offer for sale (OFS) of Rs 375 crore by promoters and investors. The next day, Jhunjhunwala-backed Nazara Technologies and Suryoday Small Finance Bank's IPOs will open for bidding. Nazara Technologies is looking to raise Rs 582.91 crore, while Suryoday Small Finance Bank is in the market for Rs 582.34 crore. The issues closes on March 19.