RailTel, IRFC, Indigo Paints Among Others To Launch IPO This Month

To tap the market momentum, January shall be another busy month for IPO and at least 6 companies are looking to raise a total of Rs. 8000 crore, as per sources.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation (IRFC), and Suryoday Small Finance Bank are among the companies looking to tap the market.

RailTel, IRFC, Indigo Paints Among Others To Launch IPO This Month

"Investors are bullish because of liquidity in the system, though fundamentals are still playing catch up with valuations," said Skanda Jayaraman, head of investment banking, Spark Capital. The financing company Home First Finance filed an addendum to its draft prospectus last year with the SEBI but the launch of the IPO did not took off as Covid 19 forced deferment of the plan.

"The economy seems to be on the right path. Also, allocations coming from foreign investors will be an added advantage. Most of these companies are looking at liquidity from retail, as well as institutional investors. Recent IPOs have posted immediate gains for investors," said Rajendra Naik, MD-investment banking, Centrum Capital.

From March lows, the regain on the indices is a huge 86 percent and the noticeable gain has been fuelled on account of the US Presidential elections at first and now the optimism around Covid 19 vaccine, FPI inflow.

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