IPO rally in ‘08 to be dominated by power, real estate and financial services

IPO rally in ‘08 to be dominated by power, real estate and financial services
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First Published: Sun, Jan 13 2008. 12 34 PM IST
Updated: Sun, Jan 13 2008. 12 34 PM IST
PTI
New Delhi: Upcoming power sector IPOs include state-run companies Rural Electrification Corporation and NHPC, and private firms Essar Power, Jaiprakash Power Ventures, JSW Energy and Sterlite Energy.
In the PSU space, a number of banks have lined up public issues, most of which are follow-on public offers by the likes of Canara Bank, Syndicate Bank, UCO Bank and United Bank of India.
Among real estate companies, EmaarMGF, Gammon Infra and a host of others have lined up their public offers.
“The rally would be dominated by power, real estate and financial services, but would not be concentrated to one or two sectors,” primary market tracking firm Prime Database’s Prithvi Haldea said.
A buoyant secondary market and handsome post-listing gains on almost all IPOs in the past two years are making the IPO space attractive, Haldea added.
According to Prime Database, there are 150-175 public issues lined up for 2008 targeting estimated proceeds of Rs75,000 crore, including about Rs 60,000 crore through IPOs and about Rs 15,000 crore through FPOs. In 2007, over 100 IPOs and six FPOs hit the market, raising close to Rs 48,000 crore -- the highest ever proceeds so far for a year.
In the financial services sector, several firms are expected to hit the IPO market including Anand Rathi, Angel Broking, Global Trade Finance, Microsec and UTI AMC.
Telecom sector may also see Aircel, Bharti Infratel, Indus Towers and Onmobile coming out with their IPOs, while IT sector’s expected public issues are Birlasoft, GSS America, IBS, ITC Infotech, L&T Infotech, Servion, Xenitis and Ybrant.
Some hospitality sector companies, such as Cox & Kings, Mahindra Holiday Resorts and Pride Hotels are also expected to hit the market this year.
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First Published: Sun, Jan 13 2008. 12 34 PM IST
More Topics: IPO | power | Future Database | real estate | EmaarMGF |