Public CompanyOver 60 cos await Sebi nod for share sale worth Rs 50,000 cr
Finding the economy and markets back on the recovery path, more than 60 companies are looking to raise an estimated Rs 50,000 crore through sale of shares and awaiting the regulatory nod for the same.
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According to data available with Securities and Exchange Board of India (Sebi) and various investment bankers, more than 60 companies are waiting for the go-ahead signal from the market regulator for their planned sale of shares -- most of them through initial public offers (IPOs) and others through rights issues or sale of shares to their existing shareholders.
Shares worth an estimated Rs 50,000 crore could be sold in these public and rights issues and the amount could even double if the government steps up its divestment process, believe merchant bankers, and a good market response leads to more companies joining the fray.
The past few days, in particular, have seen an intensified rush to file the draft IPO prospectus with Sebi. In the last week of September alone, more than 20 companies sought the regulator"s nod to raise over Rs 20,000 crore.
These IPO-bound companies include Anil Ambani group"s telecom tower firm Reliance Infratel and half a dozen realty companies like Sahara Prime City, Emaar MGF, Lodha Developers, Ambience, DB Realty and Kumar Urban Development.