The Year 2010 proved a very good year for IPOs, about 65 companies raised Rs 71000 crore through IPOs. Previous year 2009 was a sluggish year for IPOs after the recession year 2008. Most of the companies rushed to primary markets to raise funds through initial public offering (IPOs) on encouraging stock markets conditions this year. Now this year 2011 have more to come in primary market as several good PSUs like RINL, MMTC, PFC and NBCC are few of them. The five best IPOs in 2011 are Micromax, Tata Autocomp Systems, IOT Infrastructure, L&T Finance and HPCL-Mittal Energy. Stock Market analysts are of the opinion that this year will be better than the previous as more companies are lined up for raising money for expansion.
1. Micromax Informatics is expected to go public early in 2011. The company filed its prospectus (DRHP) late last month. The company is expecting to raise Rs 426 crore through the IPO.
2. Tata Autocomp Systems is coming up to raise Rs 750 crore through an Initial IPO. As per the prospectus (DRHP), shareholders including Tata Motors, Tata Sons, Tata Capital and Tata Industries will together sell nearly 35.63 million shares in the company.
3. Indian Oil Corporation (IOC) co-promoted oil EPC firm, IOT Infrastructure and Energy Services is all set to hit the capital market with an IPO of Rs 800 crore before March. The company had filed its Draft Red Herring Prospectus with SEBI for the IPO in September which entails marginal divestment by its existing owners and issue of fresh shares.
4. L&T Finance, the financial arm of Larsen and Toubro (L&T) has filed for an IPO to raise Rs 1.500 crore, which is expected to hit the capital market in the fourth quarter of FY11. The dilution for L&T Finance IPO will be around 10-12%.
5. The joint venture between Hindustan Petroleum Corporation and Singaporebased Mittal Energy Investment, HPCL-Mittal Energy (HMEL) is going to sell 10% stake each in the Bathinda refinery in a public offering in Q4 of 2011. The IPO is expected to raise Rs 1,000-1,500 crore. Both HPCL and Mittal Energy hold stake of 49% each in the company, while the financial institutions hold the rest 2%.
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