India '07 primary mkt mop-up record 451 bln rupees
MUMBAI (Reuters) - Indian companies sold shares worth a record 451.37 billion rupees in 2007 through public issues, with real estate companies dominating the initial public offer (IPOs) route, a primary market monitoring firm said on Wednesday.
The amount raised in 2007 was 83 percent higher than last year's mobilisation of 246.79 billion rupees, Prime Database said in a statement.
It said real estate companies raised 151.85 billion, almost one-third of the total funds raised, followed by banks with 126.39 billion rupees.
The biggest issue was of ICICI Bank Ltd that raised 100.44 billion rupees through a follow-on issue (fresh issue of shares by a listed company), while real-estate firm DLF Ltd raised 91.87 billion through an IPO.
Other big issues in 2007 included Power Grid Corp of India Ltd (29.84 billion rupees), Idea Cellular Ltd (24.43 billion rupees) and Mundra Port & Special Economic Zone Ltd (17.71 billion rupees).
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