During 2012-13, a total of 10 companies raised a cumulative Rs 6,059 crore through initial public offerings (IPOs), data available with the stock exchanges show.
This is a marginal rise of 4 per cent from the previous year, when 33 companies had together mopped-up Rs 5,808 crore. This is a far cry from a total of Rs 33,183 crore raised through IPOs in 2010-11 by 52 firms.
Mostly smaller size (less than Rs 1,000 crore) firms approached the primary market for raising capital in 2012-13. It is learnt that some companies even withdrew their offers after poor response.
Even after doing all the groundwork and obtaining the necessary approvals, many companies did not launch their offers in 2012-13.
The biggest IPO since October 2010 was the issue of Bharti Infratel, the tower arm of telecom giant Bharti Airtel, and this fetched the firm Rs 4,118 crore. In October 2010, Coal India (CIL) garnered Rs 15,475 crore through IPO.
The year 2012-13 saw three jewellery firms — PC Jewellers, Tribhovandas Bhimji Zaveri and Tara Jewels — raising capital from the primary market.
The only state-owned firm to enter the capital market through IPO route during 2012-13 was the housing finance company, Repco Home Finance. Repco Home Finance raised about Rs 270 crore through its public offer.
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