Financial companies milk IPO boom

This year has proved a bumper one for financial sector’s initial public offerings (IPOs). More than half of the Rs 25,680-crore raised through IPOs this year have been by financial companies, which include ICICI Prudential Life and PNB Housing Finance. Besides, microfinance lenders Equitas Holdings and Ujjivan Financial Services have seen successful listings and huge investor interest. The year 2010, best year for IPOs, was dominated by energy companies, such as Coal India. Investment bankers say the financial sector is liked by investors but whether the IPO momentum will continue next year will depend on the impact of demonetisation.