Capital sought to expansion programmes

More than two dozen companies are working on initial public offer (IPOs) to raise Rs.25,000 crore in the coming months for expansion and working capital.

The lineup is led by Industry leaders heavyweight Hindustan Aeronautics Ltd, which is being sought by international manufacturers for partnerships for increasing production of high-end products.

ICICI Securities heads the financial sector with IPOs plans.

Besides the two, the Security Exchange Bureau of India has given go-ahead to others including Bharat Dynamics and Indian Renewable Energy Development Agency.

Twenty companies including RITES, Mishra Dhatu Nigam Ltd, Bandhan Bank, IndoStar Capital Finance, Nazara Technologies and Route Mobile are awaiting the regulator’s approval to float IPOs, according to a Press Trust of India report.

Last year, 36 companies collectively raised over Rs.67,000 crore via IPOs, making it the best year as India’s industrial development picks up steam. fii-news.com