Amid a sluggish secondary market, companies have begun firming plans to raise funds through IPOs and FPOs, although for smaller amounts, with at least eight entities filing draft documents with Sebi for the same.
These documents have been filed with the the market regulator Securities and Exchange Board of India (Sebi) in the past two months for Initial Public Offers (IPOs) and Follow-On Public Offers (FPOs) for raising a total estimated amount of at least Rs 1,700 crore.At least four companies -- Inox Wind, Shemaroo Entertainment, Trimax IT Infrastructure & Services and Engineers India -- filed their documents in July alone, while four others - Intas Pharmaceuticals, ACB India, Emcure Pharmaceuticals and Sundaram-Clayton -- submitted their initial papers with Sebi in June.
Prior to this, just one company, Wonderla Holidays, had filed its draft offer document with Sebi till May in the current fiscal that began in April.