IPOs to break all records in June

Come June, the domestic primary market may witness the highest ever capital mobilisation.

Although the exact size and date of the initial public offering (IPO) of DLF and the follow-on issue of ICICI Bank are yet to be announced, marketmen expect these offers will compete head to head for investors’ fund of over Rs 24,000 crore next month.

Real estate major DLF, which took four months to receive market regulator Sebi’s clearance for its public issue, is expected to hit the market by the end of June with an over Rs 13,000 crore issue.However, marketmen expect that the public issue could be of around Rs 11,000 crore, and the remaining part might be raised from private equity investors.

The country’s second largest bank, ICICI Bank, has sought approval from Sebi to sell Rs 17,500 crore of shares to local and overseas investors. The bank has set a target of launching the issue in June. The offer may be raised to Rs 20,100 crore depending on demand, the sale document said.

The two issues are expected to inject buoyancy into the primary market which saw the last big issue in December when Cairn raised Rs 5,261 crore.

Read more in The Business Standard article.