There is no sign of relief for the IPO market. The come back of Sensex to the 10,000-level is doubtful to prompt a revitalization in the primary market in the future. The doubt is there as foreign institutional investors (FII) continue to introverted and also there are concerns for the general elections.
According to Prithvi Haldea of Prime Database, it's not the Sensex level by itself, but the stability and positive outlook for the secondary markets that's important for the primary market. He points out to the spate of successful IPOs in 2005-06, when the Sensex was between 8,000-16,000 points.
India's primary markets have been on a dried up since 2007. So far in 2009, only one initial public offer (IPO) has seen the light of the day, raising Rs 23 crore. There was a enlistment of Rs 16,927 crore in 2008, almost 63 per cent down from the Rs 45,137 crore raised in 2007 through public equity issues, comprising both IPOs and FPOs, according to Prime Database.
According to Prithvi Haldea of Prime Database, it's not the Sensex level by itself, but the stability and positive outlook for the secondary markets that's important for the primary market. He points out to the spate of successful IPOs in 2005-06, when the Sensex was between 8,000-16,000 points.
India's primary markets have been on a dried up since 2007. So far in 2009, only one initial public offer (IPO) has seen the light of the day, raising Rs 23 crore. There was a enlistment of Rs 16,927 crore in 2008, almost 63 per cent down from the Rs 45,137 crore raised in 2007 through public equity issues, comprising both IPOs and FPOs, according to Prime Database.
Source: Asian CERC
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