For public issue in a week half Rs. 2.6 lakh crore applications

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- Money pouring into Dalal Street for public issues

- 50 times more applications than the planned fund of Rs.5,521 crore and retail investors also emerged with demand 12 times higher than the allotted shares.

Ahmedabad: A new record has been seen in the Indian stock market over the weekend. Investors bid Rs 2,59,974 crore in five public issues to raise capital during this week, which is the largest amount raised in a single week in the history of the country's capital market. The five companies had planned to raise a total of Rs 5,251 crore, excluding the portion of shares to be allotted to anchor investors, but the bids were 50 times higher, indicating growing investor confidence in the Indian stock market, market analysts said. Retail investors also bid 12 times in these five issues.

To understand how big this figure is, let us know that only once in the last 10 years has the country's primary market (i.e. money raised through public issues) collected more than one lakh crore rupees in the entire year. In the year 2020-21, various companies have raised Rs.1,15,746 crore through public issues, which is a record till date.

The secondary market in India (the market in which shares are bought and sold) has a promising future, the primary market is becoming increasingly attractive as more and more investors are likely to come. After the lockdown in Corona, the Indian stock market is seeing a continuous flow of investors. Systematic Investment Plan (SIP) investment through mutual funds reached a historic high of Rs 16,928 crore at the end of October with a total of 7.30 crore SIP accounts linked. A demat account is required to invest in the stock market. The Central Depository Service has announced on Wednesday that the number of demat accounts has crossed 10 crores. At the end of September, the investment of foreign institutions in the companies listed on the National Stock Exchange has been seen at a 10-year low, but the proportion of local investors or the share in the total shareholding was the highest at 7.62 percent. According to statistics, the holding of retail investors increased five times in the last three years.

It was the first public issue of a company of its own by the country's largest conglomerate Tata Group in two decades (TCS's public issue was in 2004). The issue of Tata Technology, a sub-series of Tata Motors, has been completed today. The company received applications for a total of 313 crore shares in this 4.50 crore fill at a price of Rs.475-500. Against the fund raise of Rs.2251.4 crore, investment proposal of 69 times i.e. Rs.1,56,324 crore has been received.

Apart from this, public issue of government company Ereda Energy of Rs.1506 crore has been filled 38 times. A company named Gandhara Energy has received applications worth Rs.23,001 crore or 66 times against Rs.350 crore. Similarly, Fedbank Financial has received three times the number of applications and Flare Writing has received 49 times the number of applications.

However, the first six months of FY 2023-24 (between April and September) saw a decline in the amount of money raised through public issues issued by companies. This year, 31 companies have raised an amount of Rs.26,300 crore till September as compared to Rs.35,456 crore last year which shows a decrease of 26 percent.

Among other issues that came this year, issues of Utkarsh Small Finance Bank or Idea Forge were filled up to 100 times. However, the fund raising plan of these companies was one-fifth that of Tata Technologies. Among the big issues this year, shares of JSW and Indian Renewable Energy saw similar enthusiasm as Tata.

Public issues in the week

Company Name

How much funding?

How many applications received?

How many times filled

How many times did retail fill up?

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Rs. Crore

Rs. Crore

Count

Count

Tata Technology

2251.46

1 , 56 , 325

69.4

16.5

Gandhara Ngirm

350.48

23 , 002

65.6

28.9

Ereda

1506.94

58 , 472

38.80

7.72

Flair writing

415.1

20454

49.3

13

Fedbank Fi.

727.26

1722

2.36

1.82

Total

5251.3

2 , 59 , 974

49.50

12.11

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