Compared with 2007, fund raising has dipped by 54.55 per cent. Fund raising activity through IPO reached its peak in 2007, when a whopping $9,920.65 million was garnered.
Though there was a fall in both value as well as volume terms but the year 2008 saw several large IPOs across the board including Reliance Power's $2.56 billion issue - the largest public issue of 2008, Grant Thornton added.
The other big IPOs in the year came from Rural Electrification Corp, IRB infrastructure developers and KSK energy ventures each raising $410 million, $236 million and $208 million, respectively.
Capital mobilisation through IPOs witnessed a fall both in terms of volume and value as only 44 transactions worth $4,508.85 million were announced, global consultancy firm Grant Thornton said. Way back in 2005, however, there were as many as 64 such deals with an announced value of $5,521.50, it added.
The total fund mopped up through IPO in 2008 was $4.51 billion, 18.34 per cent lower than the amount raised in 2005.
