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Public offers hit record high of Rs 30,000 cr in 2004
Equity mobilisation of Rs 30,511 cr stood almost near to a collective Rs 32,025 cr raised during 1995-2003, Prime Database said.
Dispelling myths of lack of depth in Indian primary markets, about 34 companies mopped up the highest ever amount of Rs 30,511 crore in 2004, a whopping 14 times higher than that a year ago, Prime Database said on Tuesday.
The equity mobilisation of Rs 30,511 crore in 2004 stood almost near to a collective Rs 32,025 crore raised between 1995 and 2003, Prime said.
The impressive performance, according to Prime, was due to offer for sales at Rs 19,808 crore, the bulk of it coming from disinvestment of PSUs at Rs 16,819 crore with ONGC alone garnering about Rs 8,546 crore.
As many as six offers were made by the private sector aggregating Rs 2,989 crore, it said.
The first half of the year saw a mobilisation of Rs 19,190 crore, while the second half witnessed Rs 11,321 crore, Prime said.
In terms of raising fresh capital, Prime said it was at impressive Rs 10,703 crore, higher by 11 times than that in the previous year, it said, adding that the year saw a "near demise" of small issues.
Noting that there were only five issues below Rs 10 crore and three issues were over Rs 5,000 crore, it said "the Rs 10-20 crore public issues appear a thing of the past and India is now in the big league."
