Fundraising thro' public issues doubles in FY21

New Delhi: THE Finance Ministry on Wednesday said fundraising through public and rights issues surged 115 per cent and 15 per cent, respectively, in 2020-21 despite the uncertainty due to the Covid-19 pandemic.

In terms of numbers, FY21 witnessed 55 initial public offerings (IPO) and one follow-on public offer (FPO), the ministry said in a statement. In the fiscal, 21 rights issues were successfully completed as against 17 in the previous year, it added.

"During 2020-21, Rs 46,029.71 crore and Rs 64,058.61 crore were raised through Public Issues and Rights Issue, respectively, as against Rs 21,382.35 crore and Rs 55,669.79 crore raised last year. This is an increase of 115 per cent and 15 per cent, respectively, in 2020-21 as compared to last year," the ministry said.

Similarly, around 2003 issues of corporate bonds for an amount of Rs 7,82,427.39 crore happened in 2020-21, surpassing the amount raised (Rs 6,89,686.19 crore) through 1,821 issues for the fiscal year 2019-20, it noted.