Cos raised Rs 3,029 cr in Sep via IPOs, issues

The quantum of funds raised by India Inc through initial public offers (IPOs) and rights issues fell to Rs 3,029.1 crore in September this year, a 21.6% decline in comparison to the month of August.

"During September, 2011, Rs 3,029.1 crore was mobilised in the primary market through 12 issues as compared to Rs 3,865.7 crore mobilised through 11 issues in August, 2011, showing a decrease of 21.6% over the month," according to the latest 'Capital Market Review' by market regulator Securities and Exchange Board of India (Sebi).

Of the 12 issues in September, 9 were IPOs, one was public debt issue and 2 were rights issues.

Corporates raised a total of Rs 3,865.70 crore through 4 debt public issues, 4 IPOs and 3 rights issues in August, 2011.

Sebi also said no Qualified Institutional Placement (QIPs) took place in September.

In the previous month, there was just a single QIP which raised Rs 8 crore.

Preferential allotments also witnessed a decline in September, 2011, with 25 such allotments raising a total of Rs 499 crore. In comparison, 29 preferential allotments were executed in the primary market in August, which raised a total of Rs 688 crore.

After a period of volatility, the stock market witnessed an upswing in September, with the benchmark Sensex gaining 8.9% during the month.