Markets were bubbling in September. And in what analysts said was the busiest week for IPOs since 1995, the week beginning 20 September saw the issue of 11 IPOs with a price band ranging from Rs10 (US$0.22) to Rs1,310 per share.
“The primary market is raging strongly,” said Jagannadham Thunuguntla, an equity strategist at SMC Global Securities. “Even during the red-hot bull market of 2007, no single week featured 11 IPOs. The liquidity, which was flooding the secondary market, is all set to flood the primary market as well.”
The IPOs saw offerings from Career Point Infosystems, Eros International Media, Orient Green Power, Gallant Ispat, Cantabil Retail, Ramky Infrastructure, Electrosteel Steel, VA Tech Wabag, Tecpro Systems and Ashoka Buildcon.
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