Six SMEs launch IPOs amid sluggish market conditions
Six small and medium sized companies had launched initial public offerings (IPO) despite the current sluggish condition of the market in India. The launched IPO was worth INR70 million according to the Bombay Stock Exchange's SME platform in the past one month.
The last IPO offered by a major company was that of Just Dial in May. The internet firm got approximately INR900 million through the initial public offer. However, large firms in India had difficulties in raising capital through IPOs.
The six SME companies that launched initial share sale last month were Money Masters Leasing & Finance Ltd, GCM Commodity & Derivatives Ltd, Alacrity Securities Ltd, VKJ Infradevelopers, Silverpoint Infratech Ltd and Kushal Tradelink Ltd. These initial public offerings were launched under the small and medium enterprises platform on the Bombay Stock Exchange. More companies had their draft documents filed and would launch initial offerings in the coming weeks.