India inc to raise Rs 16,000 crore through public offers
Buoyed by the recent surge in capital markets, India Inc is planning to raise Rs 16,000 crore ($3.3 billion) through initial public offerings (IPOs) this fiscal, an industry lobby report said today.business Updated: Jul 30, 2009 19:52 IST
Buoyed by the recent surge in capital markets, India Inc is planning to raise Rs 16,000 crore ($3.3 billion) through initial public offerings (IPOs) this fiscal, an industry lobby report said on Thursday.
"The companies are weighing higher expectations from renewed investor's sentiments to raise funds from the primary market," Assocham president Sajjan Jindal said.
The Assocham Financial Pulse (AFP) analysis of the emerging IPO trends said companies in the infrastructure, IT, hospitality and textile sectors would issue IPOs to raise funds.
The infrastructure sector hopes to mop up Rs 10,000 crore from the primary market, the report said.
Among the infrastructure sub-sectors, power sector is a leading fund raiser with an estimated Rs 6,236 crore to be raised from IPOs.
National Hydroelectric Power Corp (NHPC), Adani Power, Indiabulls Power and Usher Eco Power Ltd are the leading power companies that will issue IPOs.
In the energy sector, Oil India is looking to raise Rs 1,400 crore from the market.
JSW group will likely rise Rs 1,000 crore for its infrastructure and logistics business, said the study.
Housing majors ARSS Infrastructure Projects and Godrej Properties are the other leading infrastructure firms looking for raising funds from market.
According to Assocham, the IT industry would likely raise Rs 4,858 crore through public offer, while the hospitality and textiles sectors are looking for raising Rs 301.12 crore and Rs 275 crore, respectively.