Dozen of IPOs likely to hit Dalal Street in September

by khalid on 08/09/2010 · 0 comments

Investors of Primary Market would have a number of choices to invest their money in September 2010 as 11 small to medium scale companies, including tutorial service provider Career Point and entertainment and media firm Eros International, are preparing to launch their initial public offerings (IPOs) this month.

The companies, which are planning to come out with their IPOs include Indosolar, Commercial Engineers, VA Tech Wabag, Ashoka Buildcon, Electrosteel, You Broadband and BS Transcom. All these companies are trying to hit the market before September because otherwise they will have to re-file the June quarter financial results with the capital market regulator Sebi. Till September, they can go with March quarter financial results.

Recently, the public issues of a number of entities including SKS Microfinance, Prakash Steelage Ltd and Gujarat Pipavav Port Ltd got huge response from investors and were oversubscribed. Corporate India raised over Rs 47,800 crore through the IPOs during the fiscal 2009-2010, a period during which the stock market benchmark Sensex gave a handsome return of over 80 per cent.

According to an analysis, about 44 companies — including PSUs — raised Rs 47,867 crore during the April 2009 to March 31, 2010 period.

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