Two companies Star Health and Allied Insurance Company and Tega Industries, are set to float their initial public offerings (IPOs) next week to raise Rs 7,868 crore cumulatively. The three-day initial share-sale of Star Health will open on November 30 and conclude on December 2, while that of Tega Industries will be open for public subscription during December 1-3.
This comes after ten firms successfully concluded their initial public offerings in November.
So far, in 2021, as many as 51 companies have launched their IPOs to raise over Rs 1 lakh crore, according to the analysis of data with exchanges.
Apart from these, PowerGrid InvIT, the infrastructure investment trust (InvIT) sponsored by the Power Grid Corporation of India, mopped up Rs 7,735 crore through its IPO and Brookfield India Real Estate Trust raised Rs 3,800 crore via its initial share sale. The fundraising so far this year is way higher than Rs 26,611 crore collected by 15 companies through initial share sales in the entire 2020.
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Such impressive fundraising through IPOs was last seen in 2017 when firms mobilised Rs 67,147 crore through 36 IPOs.
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