FPIs' participation in IPOs has reduced as MFs have got bigger: Khaitan

A good deal is where there is some money left on the table for investors

Deal-making this year has become more challenging with increasing market volatility. Sunil Khaitan, India head, global capital markets, Bank of America Merrill Lynch, shares his view on the outlook and trends on the primary market with Samie Modak. Edited excerpts:

The primary market this year has been good but not as good as last year. What’s the reason? 

For the last two years, the Vix index, a global measure of market volatility, was at an all-time low, something that is never seen for such a prolonged period. Now, with the US Fed raising rates, the Vix has been rising. We are