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Investors earn $7 bn from debut trade in last 1 yr

Investors have raked in moolah from initial public offerings in the last one year with a majority of the companies clocking considerable gains.

business Updated: Aug 13, 2007 13:02 IST

PTI
Hindustantimes
         

Investors have raked in moolah from initial public offerings in the last one year with a majority of the companies clocking considerable gain in their stock prices during the debut trade.

Shareholders gained over $6.73 billions (about Rs 27,370 crore) on the first day of trade in shares they received in IPOs of 76 companies during the last 12 months, a PTI analysis shows.

Of the 76 companies, shares of as many as 45 firms ended with an average premium of 23 per cent to the issue price on the first day of trade, while 31 firms fell below.

In terms of gain in market capitalisation, real estate developers DLF and Parsvnath led the way, followed by public sector Power Finance Corporation (PFC) and Aditya Birla Group's Idea Cellular.

Closing up by eight per cent over the issue price of Rs 525, DLF added Rs 7,680 crore to its market cap at the end of first day's trade.

After just a few days of trading, DLF crossed the one lakh-crore market capitalisation mark, becoming the first realty firm to achieve the feat.

Another real estate major Parsvnath Developers added over Rs 4,100 crore to investors' kitty after the scrip jumped 75.43 per cent in its debut trade to Rs 526.30, well above its issue price of Rs 300.

PFC had a gain of over Rs 3,000 crore on its first day on the bourses with a 31 per cent rise to close at Rs 111.55 over its issue price of Rs 85. Not far behind was Idea Cellular, which cornered Rs 2,780 crore from the market as its scrip rose 14 per cent.

First Published: Aug 13, 2007 12:56 IST