Cos raised Rs3,029 crore in September via IPOs, rights & debt issues

“During September 2011, Rs3,029.1 crore was mobilised in the primary market through 12 issues as compared to Rs3,865.7 crore mobilised through 11 issues in August 2011, a decrease of 21.6% over the month,” according to the latest ‘Capital Market Review’ by market regulator Securities and Exchange Board of India

Mumbai: The quantum of funds raised by India Inc through initial public offers and rights issues fell to Rs3,029.1 crore in September this year, a 21.6% decline in comparison to the month of August, reports PTI.

“During September 2011, Rs3,029.1 crore was mobilised in the primary market through 12 issues as compared to Rs3,865.7 crore mobilised through 11 issues in August 2011, showing a decrease of 21.6% over the month,” according to the latest ‘Capital Market Review’ by market regulator Securities and Exchange Board of India (SEBI).

Of the 12 issues in September, nine were initial public offerings (IPOs), one was public debt issue and two were rights issues.

Corporates raised a total of Rs3,865.7 crore through four debt public issues, four IPOs and three rights issues in August 2011.

SEBI also said no Qualified Institutional Placement (QIPs) took place in September.

In the previous month, there was a single QIP which raised Rs8 crore.

Preferential allotments also witnessed a decline in September 2011, with 25 such allotments raising a total of Rs499 crore. In comparison, 29 preferential allotments were executed in the primary market in August, which raised a total of Rs688 crore.

After a period of volatility, the stock market witnessed an upswing in September, with the benchmark Sensex gaining 8.9% during the month.

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