MUMBAI: Led by a record number of QIP issues and IPOs, the pandemic-hit FY21 has been the best for fundraising, with companies raising a record Rs 1,88,900 crore in public equity sales during the year, more than double of Rs 91,670 crore in the previous fiscal, according to a report.

This was more than double of the Rs 91,670 crore that was raised in 2019-20, according to Pranav Haldea, Managing Director, PRIME Database Group, India's premier database on the capital markets. The previous highest amount raised in a financial year was Rs.1.75 lakh crore in 2017-18.

According to Haldea, contrary to the despondency due to the pandemic, 30 main-board IPOs came to the market collectively raising Rs 31,268 crore.  This was an increase of 54 percent from the Rs 20,350 crore raised through 13 IPOs in 2019-20. The largest IPO in 2020-21 was from Gland Pharma for Rs 6,480 crore. The average deal size was Rs 1,042 crore.

The overall response from the public to the mainboard IPOs of the year, according to primedatabase.com, was very good. 18 IPOs received a mega response of more than 10 times while 4 IPOs were oversubscribed by more than 3 times and the balance 8 initial public offers were oversubscribed between 1 to 3 times.

The year witnessed tremendous response from retail investors. The highest number of applications was received by Indigo Paints (25.88 lakh) followed by Mtar Technologies (25.87 lakh) and Mazagon Dock (23.56 lakh).

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