The recovery in India's primary market has picked up pace in 2016. In the first half of the calendar year, 11 companies raised over Rs 7,500 crores via initial public offerings (IPOs). That's over 50 percent of the total Rs 13,600 crores in IPO funds raised in 2015.
If the pace of share sales is maintained, 2016 will be the third year of recovery for the IPO market. From 64 offerings in 2010, the number fell to 3 in 2013. 2014 showed a minor improvement to 5 and 2015, with 21 offerings, was the year of a substantial recovery.
Key equity indices saw strong gains in 2014, with the Sensex rising 30 percent on account of a post-election rally. This prompted a slew of listings in 2015, a year that saw the Sensex lose 5 percent. So far in 2016, the Sensex has seen a 4 percent gain.
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