IPO issuances in FY16 at five-year high

Fund-raising through initial public offerings (IPOs) in FY16 touched five- year high. In the last financial year, 24 issues mopped up Rs 14,500 crore, the highest since FY11, when Rs 33,098 crore was raised by 52 companies.

The performance of IPO, however, is a mixed bag, with 12 stocks in the green and 12 in the red compared to their IPO price. Shree Pushkar Chemicals has topped the returns chart and is the only firm to give triple-digit returns.

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VRL Logistics, Syngene International and Dr Lal PathLabs are others to clock strong gains. Of the five health care firms that listed in FY16, four are in green.

The biggest loser was Adlabs Entertainment, followed by MEP Infrastructure, UFO Moviez and Quick Heal. There was healthy interest from institutional investors, especially domestic funds.

Eight IPOs got subscribed more than 10 times, with VRL Logistics getting the highest subscription of 52 times. Dr Lal, TeamLease Services and Alkem Laboratories saw subscriptions in excess of 30 times.

Retail participation was subdued, with only seven firms seeing their retail quota getting subscribed more than three times.