Sustained buying by foreign portfolio investors, an uptick in corporate earnings, economic recovery from COVID-19 shocks, and buoyant world markets have been been the driving forces behind a powerful rally in Indian equities.

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This upbeat mood in the secondary market has rubbed off on the primary market as well, with companies raising close to Rs 44,000 crore in 2020.

And the momentum has carried over to 2021 as well. In the first two months of 2021, eight companies have raised Rs 12,720 crore through initial public offerings. According to news reports, 10-16 companies are expected to launch initial public offerings this month.

MTAR Technologies has already announced its IPO, which will open for subscription on March 3. The company plans to raise Rs 600 crore through the offer.

Read here:

MTAR Technologies' IPO to open on March 3 at a price band of Rs 574-575 per share; check details here

Other expected IPOs include Anupam Rasayan, Laxmi Organic Industries, Suryoday Small Finance Bank, Craftsman Automation, Barbeque Nation Hospitality, Nazara Technologies, Aadhar Housing Finance, Kalyan Jewellers India, India Pesticides and Power Grid Corporation InvIT, moneycontrol.com reported.

These IPOs could raise over Rs 25,000 crore.

Nine companies among these have already received an approval from market regulator SEBI for their IPOs. These include Easy Trip Planners, Puranik Builders, Apeejay Surrendra Park Hotels, Laxmi Organic Industries, Suryoday Small Finance Bank, Craftsman Automation, Barbeque Nation Hospitality, ESAF Small Finance Bank and Kalyan Jewellers India, the report said.

Experts are of the view that IPOs in March could be higher than January-February 2021. The stock market is expected to do well in the medium term and the primary market will mirror the same story.

First Published:Mar 1, 2021 3:46 PM IST