IIFL Securities Says 80 Companies Have Lined Up Initial Public Offerings

As many as 80 companies, including India First Life Insurance, Snapdeal, Tata Technologies, Netweb Technologies and Go Digit Insurance, have lined up Initial Public Offerings (IPOs), brokerage firm IIFL Securities' President Nipun Goel said on Thursday.
       
According to him, the IPO market has been fairly active over the last three months. and was kick-started by Mankind Pharma with its Rs 4,326 crore-offer that was very well received by investors and importantly, the shares traded strong post listing.
     
Since then, Goel said, five more IPOs have been successfully completed and there is an expectation for a number of IPOs to be launched in the next 4-8 weeks.
     
"As of date, there are approximately 80 companies wherein draft offer documents have been filed with regulator Sebi and we expect several of them to tap the market over the next couple of months," Goel said.
     
He noted that capital raising is expected to be broad-based across multiple sectors, including financial services, healthcare and manufacturing.
     
As far as investment banking activity is concerned, he said it is expected to be buoyant with significant capital raising in private and public markets over the next 9–12 months.
     
Last month, capital markets regulator Sebi had barred IIFL Securities, earlier known as India Infoline Ltd, from onboarding new clients for two years in a case of misutilisation of client funds.
     
Later, the order was stayed by the Securities Appellate Tribunal (SAT).