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IPO fund raising all-time high at Rs 1.18 lakh crore

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4 years ago

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Sixty three Indian corporates raised an all-time high Rs 1.18 lakh crore through main board IPOs in calendar 2021.

This was nearly 4.5 times Rs 26,613 crore raised through 15 IPOs in 2020 and almost double of the previous best year 2017 in which Rs 68,827 crore was raised.

IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the key highlights, according to Pranav Haldea, Managing Director, Prime Database Group.

Overall public equity fundraising crossed the Rs 2 lakh crore mark to reach Rs 2.02 lakh crore in calendar 2021 which was higher than the previous highest amount of Rs 1.76 lakh crore in the preceding year.

The overall response from the public was very good. Of the 59 IPOs for which data is available as of now, 36 IPOs received a mega response of more than 10 times (of which 6 IPOs more than 100 times) while 8 IPOs were oversubscribed by more than 3 times. The balance 15 IPOs were oversubscribed between 1 to 3 times.

The year witnessed tremendous response from retail investors as well. The average number of applications from retail was 14.36 lakh, in comparison to 12.77 lakh in 2020 and 4.05 lakh in 2019. The highest number of applications from retail in 2021 was received by Glenmark Life Sciences (33.95 lakhs) followed by Devyani International (32.67 lakhs) and Latent View (31.87 lakhs).

The amount of shares applied for by retail was a huge 135 per cent of the IPO mobilisation (156 per cent in 2020). However, the total allocation to retail was Rs 24,292 crore which was just 20 per cent of the total IPO mobilisation (down from 32 per cent in 2020).

According to Haldea, success of the IPOs was further buoyed by strong listing performance. Of the 58 IPOs which have got listed thus far, 34 gave a return of over 10 per cent (based on closing price on listing date). Sigachi Industries gave a stupendous return of 270 per cent followed by Paras Defence (185 per cent) and Latent View (148 per cent), 40 of the 58 IPOs are trading above the issue price (closing price of 22nd December, 2021). Average listing gain was 32 per cent, in comparison to 44 per cent in 2020 and 19 per cent in 2019.

A total of 25 out of the 63 IPOs that hit the market had a prior PE/VC investment. Offers for sale by such PE/VC investors at Rs 24,106 crore accounted for 20 per cent of the total IPO amount. Offers for sale by promoters at Rs 31,704 crore accounted for a further 27 per cent of the IPO amount. On the other hand, the amount of fresh capital raised in IPOs in 2021 was a very high Rs 43,324 crore, which was greater than the last 8 years combined.

Anchor investors collectively subscribed to 39 per cent of the total public issue amount. FPIs played a dominant role as anchor investors, with their subscription amounting to 24 per cent of the amount followed by MFs at 11 per cent. Qualified Institutional Buyers (including Anchors Investors) as a whole subscribed to 69 per cent of the total public issue amount (data for 59$ companies for which QIB and anchor investors data is available as of now). FPIs, on an overall basis as anchors and QIB, subscribed to 30 per cent of the issue amount followed by MFs at 16 per cent.

The year 2021 also saw record number of filings with SEBI. As many as 115 companies filed their offer document with SEBI for approval. According to Haldea, to put this in context, 2019 and 2020 cumulatively had a total of just 50 filings.

Following from the record number of filings, the IPO pipeline continues to remain strong with 35 companies holding SEBI approval proposing to raise roughly Rs 50,000 crore and another 33 companies which are awaiting SEBI approval to raise about Rs 60,000 crore. This, of course, excludes the much anticipated mega IPO of LIC which is expected to be launched in this fiscal.

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Committed to boosting Mumbai’s infrastructure, ease of living: PM Modi

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October 8, 2025

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Mumbai, Oct 8: Prime Minister Narendra Modi on Wednesday reaffirmed his government’s commitment to enhancing Mumbai’s infrastructure and the ‘Ease of Living’ as he is set to inaugurate Phase-1 of the Navi Mumbai International Airport (NMIA) and the Mumbai Metro Line-3.

In a post on X, PM Modi said, “On the way to Navi Mumbai to take part in the programme marking the inauguration of Phase-1 of the Navi Mumbai International Airport. With this, the Mumbai Metropolitan Region will get its second major international airport, thus boosting commerce and connectivity.”

“The final phase of the Mumbai Metro Line-3 will also be inaugurated. We are committed to enhancing Mumbai’s infrastructure and boosting ‘Ease of Living’ for the people of this dynamic city,” he added.

Phase-1 of the Navi Mumbai International Airport, developed at an estimated cost of Rs 19,650 crore, will be inaugurated by the Prime Minister in line with his vision of transforming India into a global aviation hub.

The Navi Mumbai International Airport is India’s largest Greenfield airport project, developed under a Public-Private Partnership (PPP) model. As the second international airport for the Mumbai Metropolitan Region, it will work in coordination with the Chhatrapati Shivaji Maharaj International Airport (CSMIA) to reduce congestion and position Mumbai among global cities with multi-airport systems.

Spread across 1,160 hectares, NMIA is designed to be one of the most efficient airports in the world, capable of handling up to 90 million passengers per annum and 3.25 million metric tonnes of cargo.

Among its standout features is an Automated People Mover (APM) system that will connect all four passenger terminals to facilitate smooth inter-terminal transfers. A landside APM will also link the city-side infrastructure, ensuring convenience for passengers and staff.

Committed to sustainability, the airport will include storage for Sustainable Aviation Fuel (SAF), solar power generation of nearly 47 MW, and electric bus services for city-wide connectivity. NMIA will also become the country’s first airport to be connected by a Water Taxi service.

In addition to the airport, PM Modi will inaugurate Phase 2B of the Mumbai Metro Line-3, which stretches from Acharya Atre Chowk to Cuffe Parade and has been constructed at an estimated cost of Rs 12,200 crore.

With this launch, the Prime Minister will dedicate the entire Mumbai Metro Line-3 (Aqua Line) to the nation. Built at a total cost exceeding Rs 37,270 crore, this milestone marks a major leap forward in the city’s urban transport infrastructure.

Mumbai Metro Line-3, the city’s first fully underground metro line, is set to redefine commuting in the Mumbai Metropolitan Region by offering faster, more efficient, and eco-friendly transport options for millions of daily commuters.

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Sensex, Nifty open marginally higher; IT stocks lead gains

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3 hours ago

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October 8, 2025

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Mumbai, Oct 8: The Indian stock markets opened slightly higher on Wednesday amid mixed movement in key stocks on Dalal Street.

The Sensex rose 63 points or 0.08 per cent to 81,990, while the Nifty gained 16 points or 0.06 per cent to trade at 25,124 in early deals.

Titan emerged as the top gainer on the Sensex, rising around 4 per cent intra-day after the company released its Q2 FY26 business update.

Other major gainers included Infosys, TCS, Tech Mahindra, HCL Tech, Asian Paints, and Trent, which climbed up to 2 per cent.

On the other hand, Tata Motors, Power Grid, BEL, HUL, Sun Pharma, and Kotak Bank were among the top losers, slipping up to 1 per cent.

In the broader markets, performance remained subdued. The Nifty MidCap index rose 0.19 per cent, while the Nifty SmallCap index was up 0.23 per cent.

Among sectoral indices, IT stocks led the gains, with the Nifty IT index advancing 1.2 per cent on the NSE.

The Nifty Pharma and Metal indices also moved up by 0.4 per cent each. However, Nifty Realty and Nifty PSU Bank indices were under pressure, falling 0.36 per cent and 0.27 per cent, respectively.

Analysts said the market is likely to remain stock-specific this week as investors track Q2 earnings updates and global cues.

“The ongoing mild rally in the market has support from institutional investment. FIIs turning buyers yesterday is a positive development,” market experts added.

“There are reports of unprecedented demand and sales of automobiles and consumer durables in this festival season. These will be reflected only in the Q3 results. So watch out for the high frequency data from the real markets,” they added.

“Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious ‘buy-on-dips’ stance, particularly in leveraged positions,” as per the experts.

Market experts said that fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.

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Sensex, Nifty extend gains on buying in heavyweights

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1 day ago

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October 7, 2025

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Mumbai, Oct 7: Indian stock markets continued their upward trend on Tuesday, supported by buying in major stocks such as ICICI Bank, ITC and more.

However, profit booking in select banking stocks limited the overall gains during the early trading hours.

The Sensex, which rose more than 100 points in early trade, was trading at 81,843, up 52 points or 0.06 per cent.

The Nifty also gained 34 points or 0.14 per cent to reach 25,112 after hitting an intra-day high of 25,140.

Among the top gainers on the Sensex were Power Grid, Bajaj Finance, HCL Tech, Bharti Airtel, ICICI Bank, Ultratech Cement, NTPC, Hindustan Unilever, Bajaj Finserv, and BEL, which rose between 0.3 per cent and 1.6 per cent.

On the other hand, Trent, Axis Bank, Tata Motors, TCS, SBI, Kotak Bank, Tech Mahindra, HDFC Bank, and Infosys were among the major losers, slipping up to 2.7 per cent.

In the broader market, the Nifty MidCap index gained 0.08 per cent, while the Nifty SmallCap index rose 0.41 per cent — showing continued interest from investors in smaller companies.

Among sectoral indices, Nifty Metal and Nifty IT were the top performers, each gaining 0.4 per cent.

The Nifty PSU Bank index was the worst hit, falling 0.3 per cent due to profit booking in public sector lenders.

Analysts said that overall market sentiment remains positive, though some volatility may persist due to profit-taking at higher levels.

“The ongoing mild rally in the market has the potential to gain momentum. The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down,” analysts said.

“Since there is huge short position in the market any positive news can trigger short-covering, further aiding the rally,” they added.

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