A new surge from Tamil Nadu
The Hindu
Eight companies raised money last year
After a long time, many companies based in Tamil Nadu have been taking their companies public through initial public offering (IPO). According to Prime Database, a data company focussing on capital markets, eight companies from the State raised money through IPOs last year. They are Aptus Value Housing Finance India Ltd; Craftsman Automation Ltd; Data Patterns (India) Ltd; Go Fashion (India) Ltd; Latent View Analytics Ltd; Shriram Properties Ltd; Star Health and Allied Insurance Co Ltd; and Chemplast Sanmar Ltd (which got relisted).
This year too, several companies have sought approval from the Securities and Exchange Board of India for IPO. Radiant Cash Management Services Ltd and Veranda Learning Solutions Ltd have got the approval, while Tamilnad Mercantile Bank Ltd and Five-Star Business Finance Ltd are in the pipeline.
Chennai-based analytics company LatentView Analytics raised ₹600 crore and it saw the highest-ever subscription in India. “Going public has given us the capital needed to chase the large opportunities we see today, both organic and inorganic. Being listed lends additional credibility during engagement with clients and also helps us attract the best talent,” says Rajan Venkatesan, chief financial officer, LatentView Analytics Ltd.
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