IPOs raise funds worth Rs. 805 billion in FY18

Buzzing with IPOs, so far FY18 has witnessed the listing of 43 companies to raise an aggregate sum of Rs. 805 billion. The funds raised from initial public offerings have recorded a tremendous increase over the years, as compared to Rs. 413 billion raised by 84 companies in FY08.

During FY12 and FY17, about 100 companies had raised Rs. 586 billion through IPOs, while FY17 saw the listing of 25 companies to raise a sum of Rs. 282 billion during the year. Further, about 14 companies are likely to launch their initial public offering in the coming months.

From the companies who rolled out their IPO in FY18, about 21 companies are trading at a higher price than their issue price.

While, Apex Frozen Foods and PSP Projects that saw major oversubscription during the IPO, are trading higher by more than double their issue price. CDSL, Dixon Technologies, AU Small Finance Bank and HDFC Standard Life Insurance Company are trading higher by 50 per cent to 90 per cent than their issue price.

FY18 also witnessed the listing of several PSUs including SBI Life Insurance Company, New India Assurance Company and General Insurance Corporation of India. However, the PSUs are yet to find traction on the bourses.