Fundraising through initial public offerings (IPOs) has been highest in the financial year 2020-21 (FY21) in the last 3 years, i.e. since FY18. According to data available with the stock exchanges, 30 firms raised Rs 31,277 crore through IPOs in 2021. This was significantly higher than Rs 20,352 crore mopped up through 13 initial share-sales in FY20 and FY19 where 14 companies had launched IPOs and raised Rs 14,719 crore. FY18 was however another story -- 45 IPOs were floated to raise over Rs 82,000 crore.

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Among IPOs in FY21, Gland Pharma raised the most money, around Rs 6,480 crore followed by Indian Railway Finance Corporation - Rs 4,633 crore, CAMS - Rs 2,240 crore and UTI Asset Management Company - Rs 2,160 crore.

Other IPOs that were launched in the year include Angel Broking, Kalyan Jewellers India, Rossari Biotech, Home First Finance Company, RailTel Corporation of India, Barbeque Nation Hospitality, and Suryoday Small Finance Bank among others.

Among subscriptions, MTAR Technologies IPO received the best response with a subscription of over 200 times. Mrs Bectors Food Specialties came in a close second with 198 times subscription.

8 other issues were subscribed over 100 times this year. These include Burger King, Mazagon Dock Shipbuilders, Happiest Minds Technologies, Laxmi Organic Industries, Nazara Tech, Easy Trip Planners, Indigo Paints, and Chemcon Specialty Chemicals.

Retail investors remained the key drivers of the momentum in the IPOs. The highest number of applications by retail investors was received by Indigo Paints followed by MTAR Technologies and Mazagon Dock.

Going ahead, the pipeline for FY22 also looks pretty robust with 18 companies already received market regulator Sebi's approval for IPOs and 14 more awaiting approvals. The 32 companies together are looking to raise around Rs 41,000 crore in the upcoming fiscal.

Companies including LIC, HDB Financial Services, NCDEX, ESAF Small Finance Bank are expected to come out with their IPOs in 2021-22.

As per analysts, the recent success of IPOs has boosted the overall investor sentiment in the primary markets.

Most of the IPOs in FY21 listed with a premium over the issue price suggesting strong investors appetite.

Burger King rose the most at the listing, up 131 percent based on the closing price on listing date) followed by Happiest Minds, up 123 percent and Indigo Paints, up 109 percent.

Meanwhile, 19 of the IPOs gave double-digit returns at the listing, up over 10 percent each.

(Edited by : Abhishek Jha)

First Published:Mar 31, 2021 12:51 PM IST