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With over 35K cr issues, April to see IPO rush
The New Indian Express
|April 13, 2024
THE two-month-long, seven-phased general elections ending early June has companies looking to hit the capital markets with primary and secondary issues, with nearly a dozen issuers lining up equity sales worth over ₹35,000 crore more in the month.
The month already saw a bumper issue -- the ₹4,275 crore offer-for-sale by Bharti Hexacom earlier this week.
The bundling of the issues, according to two investment bankers, is primarily because Maharashtra and Gujarat--the two of the largest markets for capital markets in particular and overall investments in general will be going to the polls in May in multiple phases.
Already the new fiscal got off to a smooth ride with the 4,275 crore OFS by Bharti Hexacom, an arm of the mobile major Bharti Airtel which got listed today with a 32.4% gain over the issue price of ₹570.
This story is from the April 13, 2024 edition of The New Indian Express.
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