IPO frenzy may break five-year record with many companies planning to raise Rs 6k-cr through offers

MUMBAI: India’s primary market may hit a five-year record if investors keep lapping up IPOs.

About a dozen companies are planning to raise more than Rs 6,000 crore through initial public offers (IPOs) in the next few months, among them L&T Infotech, RBL Bank and Centre for Sight.

With a similar number having already raised more than Rs 8,000 crore in the six months to June, this year could be the best for listings since 2011, according to bankers.

Investors have turned bullish thanks to forecasts of an above-average monsoon, improved corporate earnings, the likely passage of legislation related to goods and services tax (GST) and the government’s renewed push on economic reforms.