Equity fundraising this financial year surged 92 per cent to ₹3.7 lakh crore, a record, data from PRIME Database showed. This includes funds mopped up via including initial public offerings, qualified institutional placements, offer for sale, follow-on offers and REITs/InvITs. Fund raising through debt reached ₹11.1 lakh crore, the bulk of which was through private placement of debt.
Seventy-eight companies raised ₹1.62 lakh crore through mainboard IPOs, more than 2.5 times the amount raised last year. Eight new age technology companies tapped the market, raising ₹21,438 crore. The fiscal year saw 165 companies filing their offer document with SEBI for approval.
Market frenzy
The average deal size rose 2.5 times to ₹2,082 crore, up from ₹815 crore last year. Fifty six out of the 78 IPOs were subscribed more than 10 times. The average number of applications from retail rose to 21.33 lakh from 13.15 lakh last year.
Average listing gain rose marginally to 30 per cent, with 55 out of the 78 IPOs gaining over 10 per cent. The average return for 78 IPOs was 15 per cent, despite a correction in the second half of the year. Forty-six of the 78 IPOs continue to trade above the issue price.
Promoter stake
Only 17 out of the 78 IPOs that hit the market had a prior PE/VC investor who sold shares in the IPO. Offers for sale by such investors accounted for 10 per cent of the total IPO amount while that by private promoters accounted for 46 per cent. The amount of fresh capital raised was ₹57,515 crore, or 35 per cent of the total amount.
QIPs more than doubled with 91 companies mobilising ₹1.43 lakh crore.
