8 large IPOs, 30 SME issues raise ₹19,000 cr in June

PRIMARY market activity rebounded in the second half of June with eight large IPOs, led by the HDB Financial's ₹12,500 crore issue, and as many as 30 SME issues hitting the street, raising over ₹19,000 crore.

- BENN KOCHUVEEDAN @ Mumbai

Eight mainboard IPOs have collectively raised nearly ₹17,700 crore (HDB is ongoing and closes on Friday and all other issues have been closed), the highest monthly fundraising via IPOs in the past six months.

In the SME segment, the month saw as many as 30 IPOs, raising about ₹1,330 crore, a nine-month high.

The SME space activity is interesting as there has been a lot of regulatory tightening after several incidents of fund misuse and price-rigging at the pre-issue level by promoters and i-bankers.