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Moumita Bakshi Chatterjee

New Delhi, Nov. 24 Fuelled by the mega public offer of DLF Ltd, the real estate and construction sector has emerged as the top grosser for initial public offerings (IPOs) with over Rs 14,500 crore mop-up between January-November 2007.

The power generation and supply industry with IPO realisations adding-up to Rs 3133.70 crore, and telecom industry at Rs 3077.19 crore were the second and the third highest IPO grossers, followed by banking industry which raked in Rs 2595.34 crore through various IPOs.

The recent Rs 1,770-crore IPO of Mundra Port and Special Economic Zone brought the sheen to travel and transportation industry ensuring it a fifth slot in the pecking order for IPO realisations.

The real estate and construction sector saw 12 public issues between January and November totalling Rs 14,531 crore – over four times the amount garnered by the realty companies last year, according to the industry-wise data by PRIME, a database dedicated to the primary capital market.

While DLF Ltd led the realty pack with an IPO of Rs 9,187 crore in June, the sector also saw IPOs by Housing Development and Infrastructure Ltd (Rs 1707.75 crore), Puravankara Projects Ltd (Rs 856.28 crore), IVR Prime Urban Developers Ltd (Rs 778.25 crore), Omaxe Ltd (Rs 605.94 crore) and Akruti Nirman Ltd (Rs 361.80 crore). Other realty or construction companies that hit the market this year included Maytas Infra Ltd, Kolte-Patil Developers Ltd, Consolidated Construction Consortium Ltd, C&C Constructions Ltd, Orbit Corp Ltd, and Simplex Projects Ltd.

The IPO mop-up in power generation and supply industry received a boost with the public offer of Power Grid Corporation of India Ltd (PGCIL) which raised Rs 2,984 crore in September. Indowind Energy Ltd and Suryachakra Power Corp mobilised close to Rs 81.25 crore and Rs 68 crore, respectively.

The public offer of Idea Cellular (Rs 2443.75 crore) accounted for bulk of the IPO realisation in the telecom sector, while Spice Communications brought Rs 520.31 crore to India’s IPO kitty.

More Stories on : Real Estate & Construction | IPOs

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