New Delhi, January 10: India's IPO market, which saw a deep depression over the last 12 months, could have fared much worse but for the Rs.335 crore that small and medium enterprises (SME) raised through their initial offerings.
Data provided by Prime Database says the two top bourses promoted medium enterprise platforms as a result of which 35 small undertakings hit the market. Compared to this, the entire primary market raised a paltry Rs.1619 crore, which is a 12-year-low number.
While the BSE SME Platform launched in March 2012 and witnessed 31 small units this year, the NSE platform 'Emerge' came into being only last March and saw four companies getting listed over the past nine months.
Meanwhile, a report published in the Financial Express (Read the Full Story) said among the SMEs that did well on the market were Looks Health Services, GCM Securities, SRG Housing, Max Alert Systems, Comfort Commotrade, RCL Retail, Eco Friendly Food Processing, HPC Biosciences, Samruddyhi Realty and Ashapura Intimates Fashion among others.
The article quoted Prime Database Managing Director Pranav Haldea to say that, "The mobilisation in 2013 was the lowest in the past 12 years, the previous low being in 2001 when only Rs 296 crore were raised through IPOs. The highest-ever mobilisation through IPOs was in 2010 at Rs 37,535 crore."