Firms mop up record Rs 1,88,900 cr in equity capital this fiscal

| | Mumbai
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Firms mop up record Rs 1,88,900 cr in equity capital this fiscal

Wednesday, 31 March 2021 | PTI | Mumbai

Led by a record number of QIP issues and IPOs, the pandemic-hit FY21 has been the best for fundraising, with companies raising a record Rs 1,88,900 crore in public equity sales during the year, more than double of Rs 91,670 crore in the previous fiscal, according to a report.

According to data compiled by PRIME Database on Tuesday, the previous best was in 2017-18 when companies had mopped up Rs 1,75,680 crore.

The year was also good with a record qualified institutional placements worth Rs 78,731 crore and IPOs with Rs 31,268 crore raised through initial pubic issues, more than half of which took place in the ongoing quarter of the outgoing fiscal.

Of the total Rs 1,88,900 crore, fresh capital amount was Rs 1,36,992 crore (73 percent); the remaining Rs 51,908 crore being offers for sale.

PRIME Database Managing Director Pranav Haldea said strong retail participation in IPOs, huge listing gains and the highest-ever amount raised through qualified institutional placements (QIPs) and InvITs/ReITs were the key highlights of the fiscal.

Similarly, this was the best year for QIPs, with 31 issues mobilising Rs 78,731 crore, the highest ever in a financial year, and this was 54 per cent higher than Rs 51,216 crore raised in 2019-20. The largest QIP was from ICICI Bank raising Rs 15,000 crore, accounting for 19 per cent of the total.    

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