At Rs 805 bn, fundraising via IPOs in FY18 double the previous best

Analysts attribute the FY18 trend to buoyancy in the secondary market luring companies/promoters to tap the primary market for raising money

Fund raising through initial public offers (IPOs) has hit an all-time high during the financial year 2017-18 (FY18). Thus far in FY18, 43 companies have raised a combined Rs 805 billion through IPOs, surpassing its previous high recorded nearly a decade ago. Back in FY08, 84 companies had raised Rs 413 billion via IPOs, data sourced from PRIME Database suggests.

The money raised during FY18 is nearly five-times higher as compared to FY17, when 25 firms had mobilised Rs 282 billion during the year. Between FY12 and F17, 100 companies had raised Rs 586 billion from the IPOs, data show.