NHPC, Oil India Lead 12-Fold Increase in India's IPOs Last Fiscal Year

Following is a table showing 39 Indian companies raised about 244 billion rupees ($5.4 Billion) in the fiscal year ended yesterday selling shares through an initial public offering, or IPO, according to company filings to the Securities and Exchange Board of India. Eleven companies are trading below their offer price.

That's about 12 times more than the 20.3 billion rupees raised by 17 companies in the fiscal year ended March 31, 2009, according to National Stock Exchange data.

More than 60 companies have filed draft offer documents with the regulator.

================================================================================
Companies                 Shares       Offer Period Offer Price      Amount
(Arranger)                Offered                     (Rupees)       Raised
                                        Demand       Stock Price*   (Rupees)
================================================================================
================================================================================
Goenka Diamond & Jewels   10 Million     Completed        135    1.35 Billion
Ltd. (SBI Capital Market) or             March 26      Listing
                          30.9%          1.1 times     Pending
-----------------------------------------------------------------------------
Intrasoft Technologies    3.7 Million    Completed        145    537 Million
Ltd. (Collins Stewart,    or             March 26      Listing
Anand Rathi)              25.1%          18.95 times   Pending
------------------------------------------------------------------------------
Shree Ganesh Jewellery    14.3 Million@  Completed        260    3.73 Billion
House Ltd. (Axis Bank,    or             March 23      Listing
ICICI, Avendus Capital)   23.5%          1.96 times    Pending
-----------------------------------------------------------------------------
Persistent Systems Ltd.   5.42 Million@  Completed        310    1.68 Billion
(Enam, JPMorgan)          or             March 19      Listing
                          13.6%          93.6 times   on April 6
------------------------------------------------------------------------------
IL&FS Transportation      27.1 Million@  Completed        258     7 Billion
Networks Ltd. (Enam,      or             March 15
Nomura, HSBC, Avendus,    12%            33.4 times
JM Financial, SBI Capital)                              278.35
------------------------------------------------------------------------------
Pradip Overseas Ltd.      10.6 Million   Completed      110     1.17 Billion
(Anand Rathi)             or             March 15     Listing
                          25%            14.1 times  on April 5
------------------------------------------------------------------------------
DQ Entertainment Inter-   16.05 Million   Completed        80   1.28 Billion
national Ltd. (SBI       or              March 10
Capital Markets)         20.2%           86.3 times     112.25
-----------------------------------------------------------------------------
United Bank of India     50 Million      Completed         66   3.3 Billion
(SBI Capital, Edelweiss, or              Feb. 25
Enam Securities)         15.8%           33.4 times      68.8
-----------------------------------------------------------------------------
Man Infraconstruction    5.63 Million    Completed        252   1.42 Billion
Ltd. (Edelweiss Capital, or              Feb. 22
IDFC-SSKI)               11.4%           62.5 times     358.75
-----------------------------------------------------------------------------
Texmo Pipes and Products 5 million       Completed         90   450 Million
(Almondz Global          or              Feb. 19
Securities)              44.4%           7.48 times     91.95
-----------------------------------------------------------------------------
Hathway Cable & Datacom  27.75 Million@  Completed       240    6.66 Billion
Ltd. (Morgan Stanley,    or              Feb. 11
Kotak, UBS Securities)   19.4%           1.36 times     207.5
-----------------------------------------------------------------------------
ARSS Infrastructure       ---            Completed       450    1.03 Billion
Projects Ltd. (IDBI                      Feb. 11
Capital, SBI Capital)                    47.6 times     928.1
-----------------------------------------------------------------------------
Emmbi Polyarns Ltd.       9.57 Million   Completed        45    431 Million*
(Keynote Corporate)       or             Feb. 3
                          55%            1.2 times      20.65
-----------------------------------------------------------------------------
DB Realty Ltd.            ---            Completed       468     15 Billion
(Enam Securities,                        Feb. 2
Kotak Mahindra)                          2.97 times     453.85
-----------------------------------------------------------------------------
Vascon Engineers Ltd.     10.8 Million   Completed       165    1.78 Billion*
(Kotak Mahindra, Enam)    or             Jan. 29
                          12%            1.22 times     154.9
-----------------------------------------------------------------------------
Thangamayil Jewellery                    Completed        75    288 Million
Ltd. (Keynote Corporate)                 Jan. 29
                          29.4%          1.12 times     81.55
-----------------------------------------------------------------------------
Aqua Logistics Ltd.                      Completed        220     1.5 Billion
(Saffron Capital and                     Feb. 2                  Offer Period
Centrum Capital)                         1.75 times     271.05    Extende
-----------------------------------------------------------------------------
Syncom Healthcare Ltd.    7.5 Million    Completed         75    563 Million
(Chartered Capital and    or             Jan. 29
Investment)               42.9%          5.17 times     120.6
-----------------------------------------------------------------------------
Jubilant Foodworks Ltd.   22.7 Million   Completed        145   3.29 Billion
(Kotak Mahindra)          or             Jan. 20
                          35.6%          31 times       338.05
-----------------------------------------------------------------------------
Infinite Computer        11.5 Million@   Completed       165     1.9 Billion
Solutions (India) Ltd.   or              Jan. 13
(India Infoline, SPA     26.2%           43.2 times     190.7
Merchant Bankers)
-----------------------------------------------------------------------------
D.B. Corp Ltd. (Enam,     18.2 Million   Completed        212     3.85 Billion
Citigroup and Kotak)      or             Dec. 15
                          10%            39.5 times     239.9
--------------------------------------------------------------------------------
Godrej Properties Ltd.    9.43 Million   Completed        490      4.7 Billion
(ICICI Sec., Kotak, IDFC- or             Dec. 11
SSKI and Nomura)          13.5%          4 times        511.55
--------------------------------------------------------------------------------
JSW Energy Ltd.           382 Million    Completed        100       27 Billion
(JM Finance, Kotak, IDFC-                Dec. 9
SSKI, ICICI and JP Morgan)               1.67 times     111.85
--------------------------------------------------------------------------------
MBL Infrastructure Ltd.   5.7 Million    Completed       180     1.03 Billion
(Motilal Oswal)           or             Nov. 27-
                          32.6%          Dec.1          226.2
--------------------------------------------------------------------------------
Astec Lifesciences Ltd.   7.5 Mln        Completed        82     615 Million
(Almondz Global Sec.)     or             Nov. 4
                          44.3% Stake                   49.45
--------------------------------------------------------------------------------
Den Networks Ltd.         20 Mln         Completed       195     4.1 Billion
(Deutsche Bank, Antique   or             Oct. 30
Capital Markets)          15.2% Stake                   195.75
--------------------------------------------------------------------------------
Indiabulls Power Ltd.     390.7 Mln     Completed        45     17.6 Billion
(Morgan Stanley India,    or             Oct. 15
Enam Securities, Others)  19% Stake      22 times        30.75
--------------------------------------------------------------------------------
Euro Multivision Ltd.     8.80 Mln       Completed        75     660 Million
(Anand Rathi Advisors     or             Sept. 24
Ltd.)                     37% Stake      1.81 times     24.1
--------------------------------------------------------------------------------
Thinksoft Global Services 3.65 Mln       Completed       125     456 Million
Ltd. (Karvy Stock Broking or             Oct. 1                  Offer Period
Ltd.)                     36.3% Stake    2.57 times     189.55     Extended
--------------------------------------------------------------------------------
Pipavav Shipyard Ltd.     85.5 Mln       Completed        58     4.96 Billion
(JM Financial, Citigroup, or             Sept. 18
Enam Securities & Others) 12.8% Stake    3.57 times      70.4
--------------------------------------------------------------------------------
Oil India Ltd. (Morgan    26.4 Mln       Completed      1050     27.8 Billion
Stanley, JM Financial,    or              Sept. 10
Citigroup & Others)        11% Stake     30.8 times     1154.75
--------------------------------------------------------------------------------
Globus Spirits Ltd.        7.5 Mln       Completed       100      750 Million
(Srei Capital Market &     or             Sept. 2
Keynote Corporate)        38% Stake      1.5 times      135.35
--------------------------------------------------------------------------------
Jindal Cotex Ltd.         12.5 Mln       Completed        75      934 Million
(Saffron Capital           or             Sept. 1
Advisors Pvt. Ltd.)       43% Stake      2.27 times     81.00
--------------------------------------------------------------------------------
NHPC Ltd. (Enam Sec.,      1.68 Bln      Completed        36     60.4 Billion
Kotak Mahindra Capital,    or             Aug. 12
SBI Capital & Others      13.6% Stake    23.7 times     30.45
--------------------------------------------------------------------------------
Adani Power Ltd.         301.7 Mln.      Completed       100     30.2 Billion
(DSP Merrill Lynch,        or            July 31
Enam Sec. & Others)       13.8% Stake    22 times       116.0
--------------------------------------------------------------------------------
Raj Oil Mills Ltd.         9.5 Mln       Completed       120     1.14 Billion
(Karvy Investor Services)    or          July 23
                          26.4% Stake    1.03 times     59.75
--------------------------------------------------------------------------------
Excel Infoways Ltd.        5.67 Mln      Completed        85      482 Million
(Chartered Capital &         or          July 17
Investment Ltd.)          27% Stake                     39.55
--------------------------------------------------------------------------------
Mahindra Holidays &        9.27 Mln@      Completed       300     2.78 Billion
Resorts India Ltd.          or            June 26
(Kotak Mahindra, HSBC     11% Stake       9.8 times      544.7
Securities & Others)
--------------------------------------------------------------------------------
Rishabhdev Technocable    6.85 Million   Completed        33      226 Million
Ltd. (IDBI Capital &        or             June 9
PL Capital Market Pvt.)   46.7% Stake                   10.97
--------------------------------------------------------------------------------
Total 39 Companies Raised                                        244.1 Billion

Notes:  @Includes shares sold by existing investors
        *Closing price on March 31

Source: Securities and Exchange Board of India, National Stock Exchange of India.

To contact the reporter on this story: Paresh Jatakia in Mumbai at pareshj@bloomberg.net.

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