madhansurya
28-10-2007, 11:09 AM
It is not the Real estate Ipos which mopped up the lion's share of the capital market this year.Statistics show that it is the power sector which has the impressive line-up of more than 20,000 crore. Around 35% more than Rs 13,000 crore worth of IPOs mobilised in the real estate sector this year including DLF offer.
In fact, as many as seven companies, including Anil Dhirubhai Ambani's Reliance Power, have filed draft papers for IPOs with market regulator SEBI in the last couple of months. Already, funds worth Rs 3,900 crore from the capital market has come to the power sector this year. In addition, the sector is expected to raise over Rs 16,000 crore as companies such as Reliance Power, REC and NHPC line up to float their IPOs in the next couple of months.
The companies that have entered the capital market this year include Power Finance Corporation and PowerGrid Corp. Besides, there have been smaller issues from Suryachakra Power and Indowind Energy, which mopped up nearly Rs 135 crore collectively from their IPOs. The fund flow through capital market into the power sector was nearly Rs 1,300 crore in 2006 through IPOs of firms such as Lanco Infratech and GMR Infra.
The mega offering from the sector will be Reliance Power's issue, tipped to be the biggest-ever IPO in the Indian market at nearly Rs 12,000 cr. The company, a 51% subsidiary of Reliance Energy, has identified 12 power projects with a total installed capacity of 24,200 mw.
State-run Rural Electrification Corp (REC) and National Hydroelectric Power Corp (NHPC) also seek to mop up Rs 1,200 cr and Rs 1,700 cr, respectively, through their public offers. The REC IPO would consist of a fresh issue of 10% or up to 7.8 cr shares and an offer for sale of an equal number of shares by the government.
Again, Chennai-based BGR Energy, equipment supplier to power and process industries, expects to garner Rs 700 cr by floating an IPO of close to 134 lakh shares. Another Chennai-based firm Shriram EPC, part of the Shriram group, is likely to fund its investment plans in the renewable energy market through issue of 5 mn equity shares, representing 11.66% of post-issue paid-up capital.
Kolkata-based Ramsarup Lohh Udyog also proposes to enter the capital market with a public issue of 3 lakh equity shares of Rs 10 each to consolidate its position in power and infrastructure sectors.
SRC - Dead president.
In fact, as many as seven companies, including Anil Dhirubhai Ambani's Reliance Power, have filed draft papers for IPOs with market regulator SEBI in the last couple of months. Already, funds worth Rs 3,900 crore from the capital market has come to the power sector this year. In addition, the sector is expected to raise over Rs 16,000 crore as companies such as Reliance Power, REC and NHPC line up to float their IPOs in the next couple of months.
The companies that have entered the capital market this year include Power Finance Corporation and PowerGrid Corp. Besides, there have been smaller issues from Suryachakra Power and Indowind Energy, which mopped up nearly Rs 135 crore collectively from their IPOs. The fund flow through capital market into the power sector was nearly Rs 1,300 crore in 2006 through IPOs of firms such as Lanco Infratech and GMR Infra.
The mega offering from the sector will be Reliance Power's issue, tipped to be the biggest-ever IPO in the Indian market at nearly Rs 12,000 cr. The company, a 51% subsidiary of Reliance Energy, has identified 12 power projects with a total installed capacity of 24,200 mw.
State-run Rural Electrification Corp (REC) and National Hydroelectric Power Corp (NHPC) also seek to mop up Rs 1,200 cr and Rs 1,700 cr, respectively, through their public offers. The REC IPO would consist of a fresh issue of 10% or up to 7.8 cr shares and an offer for sale of an equal number of shares by the government.
Again, Chennai-based BGR Energy, equipment supplier to power and process industries, expects to garner Rs 700 cr by floating an IPO of close to 134 lakh shares. Another Chennai-based firm Shriram EPC, part of the Shriram group, is likely to fund its investment plans in the renewable energy market through issue of 5 mn equity shares, representing 11.66% of post-issue paid-up capital.
Kolkata-based Ramsarup Lohh Udyog also proposes to enter the capital market with a public issue of 3 lakh equity shares of Rs 10 each to consolidate its position in power and infrastructure sectors.
SRC - Dead president.