12 companies came out with initial public offering in September this year

MUMBAI:Tapping strong investor sentiments, as many as 12 small and medium enterprises came out with their IPOs in September, the highest in a single month since the launch of dedicated SME platforms in March 2012. The SMEs, most of them to be listed on BSE SME platform, had come out with their IPO to together raise at least Rs 81 crore. Top bourses, the BSE and the NSE, had launched dedicated platforms for SMEs in March 2012 to enable the listing of these firms and help them raise equity capital for growth and expansion in a cost-effective manner. Among the 12 firms that hit the capital markets with their IPOs in September, Momai Apparels topped the chart with Rs 30 crore initial share sale. The firm is the only one proposed to be listed on NSE’s platform for SMEs, NSE Emerge, among the 12 companies.

The remaining 11 IPOs, Naysaa Securities, Sirohia & Sons, Encash Entertainment, Ultracab (India), Aryaman Capital Markets, Atishay Infotech, Dhabriya Polywood, Starlit Power Systems, Vibrant Global Capital, Powerhouse Fitness & Realty, and ADCC Infocad, would trade on the BSE SME segment.

According to experts, current market conditions are favourable for companies looking to mop up funds through the IPO route. BSE managing director and CEO Ashish Kumar Chauhan had recently said that as many 100 companies were expected to be listed on the exchange's SME platform by the year-end.