A whopping sum amounting to Rs. 67000 crore was raised in the previous year through the IPO channel and in line with it this year too, some 24 companies from different sectors are lined up to raise Rs. 25000 crore through the share sale offer.
Companies planning the share sale offer in coming months include: A host of companies including ICICI Securities, Hindustan Aeronautics, Flemingo Travel Retail, Barbeque Nation. Some of the companies that include Bharat Dynamics, Indian Renewable Energy Development Agency, Barbeque-Nation Hospitality and ICICI Securities have already received SEBI's approval to come up with IPOs this year.
Proceeds from the IPO shall be used towards funding working capital requirements as well as for other expansion projects. Some of the other companies' gearing up for the IPO route believe that the listing of their companies will enhance their brand image.
Some other 20 companies are waiting for the SEBIs go ahead for launching IPOs. These include including RITES, Mishra Dhatu Nigam Ltd, Bandhan Bank, IndoStar Capital Finance, Nazara Technologies and Route Mobile. Since the beginning of the year 2018, 5 companies have hit the primary market.
With Inputs From PTI