look news india
Ahmedabad: There is news of IPO rain in the Indian market in the month of August. Companies raised a total of Rs. 17,048 crore through Initial Public Offering i.e. IPO. This is the highest amount raised by any IPO in the last 27 months.
A total of 10 companies launched IPOs in August, with a total collection of Rs. 17,048 crore. This is the highest amount raised by an IPO in a month since May 2022. In this public subscription, 57 percent of the amount i.e. Rs. 9715 crore was raised by issuing new shares. Rs 7333 crore was raised through offer-for-sale.
In August, Ola Electric Mobility launched the highest IPO of Rs. 6145 crore. FirstCry i.e. Brainbiz Solutions came second with Rs. 4193 crore and Premier Energy raised Rs. 2830 crore.
Other major IPOs opening this month include Seagull India (Rs 1,253 crore), Bazaar Style Retail (Rs 835 crore), Ecos India Mobility & Hospitality (Rs 600 crore) and Interarch Building Products (Rs 600 crore).
Most of these IPOs were fully subscribed on the very first day. Unicommerce E-Solutions' IPO received the highest subscription of 168.35 times. It was followed by Orient Technologies with 155 times subscription and Saraswati Saree Depot with 108 times subscription. Among the remaining IPOs, Premier Energy, Ecos India Mobility and Akms Drugs and Pharmaceuticals were subscribed 75, 65 and 63 times respectively.
Analysts say abundant liquidity, strong economic growth, bearish stock market momentum and consistently better-than-expected corporate earnings are driving IPO activity.