The initial public offering (IPO) market has kicked off the New Year on a strongest note in more than a decade. Four maiden offerings have managed to raise a cumulative Rs 7,376 crore—most since January 2008, when the now-infamous Rs 11,700 crore of Reliance Power was launched.
Uncertainty around the Budget and bullish sentiment in the secondary market has prompted the IPO rush this month, say experts.
“There is a buzz that the Finance Minister will tinker with stock market related taxes to make up for the loss in revenues due to the covid-19 pandemic. To avoid the possibility of