Equity mop up by PSUs at record this fiscal at Rs 535 bn through IPOs, QIPs

About Rs 535 billion raised via IPOs, QIPs-more combined amount raised in previous 10 financial years

Public sector undertakings (PSUs) have mopped up about Rs 535 billion by way of initial public offerings (IPOs) and qualified institutional placements (QIPs) this financial year, a record high. The amount raised is more than the combined amount garnered in the previous 10 financial years.

Seven companies tapped the market for an IPO to garner about Rs 300 billion. The sustained uptick in the secondary market combined with sizeable domestic flows and help from Life Insurance Corporation (LIC) has aided PSU share sales, said experts.

The largest offering this financial year was that of re-insurer General Insurance Corporation of India (GIC Re),