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Zee Biz 14 april 2010 North india leads in fund accumulation via public offerings
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Zee Biz 14 april 2010 North india leads in fund accumulation via public offerings

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"The amount of fund raising is relatively less in the West in comparison to the North, as the northern region was hugely helped by PSU public issuances," SMC Capitals Equity Head Jagannadham …

"The amount of fund raising is relatively less in the West in comparison to the North, as the northern region was hugely helped by PSU public issuances," SMC Capitals Equity Head Jagannadham Thunuguntla said.

Published in: Economy & Finance

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  • 1. North India leads in fund accumulation via public offerings Updated on Wednesday, April 14, 2010, 16:06 New Delhi: Public issues in 2009-10 and the elapsed period of the current fiscal netted a total of Rs 47,362 crore, out of which the lion's share of nearly 50 per cent was garnered by companies based in the North of the country, a study says. This was despite the fact the western region had more public issues than the northern region during the concerned period, with 20 public issuances in the West as against 11 public issues in the North, the study by SMC Capitals says. The reason for the higher earnings in the North was the heavy concentration of issuance volumes from big state-run firms, such as NTPC, REC, NHPC and OIL, SMC Capitals Equity Head Jagannadham Thunuguntla said. "The amount of fund raising is relatively less in the West in comparison to the North, as the northern region was hugely helped by PSU public issuances," SMC Capitals Equity Head Jagannadham Thunuguntla said. Public offerings by companies based in the northern region (mainly Delhi) raised about Rs 23,437 crore during the period, representing a 49.49 per cent share of the total proceeds. In comparison, in the western region (which generally features as the bastion of financial markets in India), about Rs 12,348 crore was raised as funds through public offers, which translated into a 26.07 per cent share, the study said. The segregation of the regions was based on the location of corporate office of the companies. The study covered funds raised through initial public offers (IPOs) and follow-on public offers (FPO). While the southern region stands third, having raised Rs 10,380 crore worth of funds (21.92 per cent) during the concerned period, public offers in the eastern region and central region accounted for 1.48 per cent and a little over one per cent, respectively, out of the total funds raised.