The IPO Lane Seems To Get Busier As Three Dozen Companies Have Lined Up Initial Share Sale - Dollar Advisory Financial Services

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Monday 28 May 2018

The IPO Lane Seems To Get Busier As Three Dozen Companies Have Lined Up Initial Share Sale

The IPO lane seems to get busier as three dozen companies have lined up initial share sale plans worth Rs 35,000 crore in the coming months, largely to fund their expansion projects and working capital requirement.

These include six state-run entities - Indian Renewable Energy Development Agency, Rail Vikas Nigam, IRCON International, RITES, Garden Reach Shipbuilders and Engineers and Mazagon Dock -- as the government intends to unlock the real value of such PSUs and bring in greater accountability.

Of these three dozen firms, most of these companies plan to utilise initial public offer proceeds for business expansion as well as working capital requirements, as per the draft papers filed with the Securities and Exchange Board of India.

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