Small and medium enterprises (SMEs) raised a staggering Rs 8.25 billion through initial public offerings in the first quarter of 2018-19, more than a two-fold jump from the preceding financial year.
Funds raised through initial public offers (IPOs) were meant for business expansion plans, working capital requirements and other general corporate purposes, according to offer documents.
A total of 47 companies got listed with initial shares-sale offers worth Rs 8.25 billion during April-June quarter of 2018-19 as compared to 24 firms which tapped the IPO route to garner Rs 3.1 billion in the same period of the previous year, as per the data provided by merchant banker.
This reflects a significant rise in the amount raised through SME platforms of BSE and NSE.
Further, average issue size also increased to over Rs 170 million during the period under review from Rs 130 million in the first quarter of 2017-18.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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