Mumbai: India Inc raised Rs13,938 crore through 26 public and rights issues in the first five months of the 2010-11 financial year, compared to Rs11,921 crore from 15 offers during the April-August period of the previous fiscal, according to market regulator Securities and Exchange Board of India (Sebi).
“The cumulative mobilised amount for the period April- August, 2010-11, stood at Rs13,938.80 crore through 26 issues over Rs11,921 crore through 15 issues during the corresponding period in 2009-10,” Sebi said in its monthly bulletin.
Out of Rs13,938.80 crore, Rs ,668.40 crore was mobilised through 16 initial public offers, while the mop-up from the lone follow-on public offer (FPO) was Rs959.40 crore.
Among the companies that raised money from the primary capital market were state-run Satluj Jal Vidyut Nigam (SJVN) through an IPO and Engineers India Ltd through a FPO.
Other companies that tapped the capital markets include Jaypee Infratech and SKS Microfinance. The microfinance company raised around Rs1,600 crore, while Jaypee Infratech mobilised Rs2,200 crore through its IPO this fiscal.
In addition, there were eight rights issue during the April-August period, through which companies raised Rs2,811 crore.
The government has set a Rs40,000 crore target for disinvestment this fiscal. It had raised around Rs2,000 crore from these two issues. Other public issues in the pipeline include Coal India’s forthcoming IPO and disinvestment in Power Grid, Hindustan Copper, Manganese Ore India Limited and SAIL.
During August, 2010, Rs1,049.7 crore was mobilised from the primary market through six issues as compared to Rs2,961.9 crore through five issues in July, 2010.
The amount mobilised through IPO and rights issues during August, 2010, stood at Rs919.6 crore and 130.1 crore, respectively, compared to Rs1,958.6 crore and Rs43.9 crore in July, 2010.