Ten companies have launched their IPOs since July and many more are in the pipeline. September has been particularly busy with eight companies opening their public issues during the month.
Happiest Minds Technologies, Route Mobile, Chemcon Speciality Chemicals, Computer Age Management Services, Angel Broking, UTI Asset Management Company, Mazgaon Dock Shipbuilders and Likhitha Infrastructure launched their initial public offers during September 2020.
The last time eight companies hit the Street with IPOs was in March 2018.
In March 2018, eight companies - Bharat Dynamics, Bandhan Bank, Hindustan Aeronautics, Sandhar Technologies, Karda Construction, Mishra Dhatu Nigam, ICICI Securities and Lemon Tree Hotels - had come out with initial public offerings.
In September 2020, eight companies raised more than Rs 7,100 crore, much less than the Rs 15,711 crore garnered by eight firms in March 2018.
Close to 6 million demat accounts were opened in the last 9 months, taking the retail tally to 44.6 million accounts.
In September 2020, there was one government company, Mazgaon Dock Shipbuilders, which launched its IPO, while in March 2018, there were three government companies that raised money via an IPO.
But there is one area where September 2020 IPOs overtake March 2018 IPOs. It is the subscription numbers. Majority of IPOs' subscription figures in 2018 were in single digits, barring Bandhan Bank (14.56 times).
In September 2020, Happiest Minds Technologies witnessed subscription of 151 times, Chemcon Speciality Chemicals 149.3 times, Mazgaon Dock Shipbuilders 157.4 times (though it closed on October 1 but opened on September 29), Route Mobile 73.3 times, CAMS 47 times, Likhitha Infrastructure 8.4 times, Angel Broking 3.94 times and UTI AMC 2.3 times.
Experts expect the momentum in the primary market to continue, as they feel LIC is also planning to launch its IPO by year-end, which is expected to be the biggest in the history of India.
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