Eighteen IPOs in the first six months of 2018 raised Rs.23,670 cr., as compared to Rs.12,000 cr. that 13 companies raised via initial public offerings in the year-ago period. The outlook is bullish for the rest of the year as well, with 50 companies—including HDFC Mutual Fund, Lodha Developers and Rail Vikas Nigam—expected to launch their initial share sales. Of these, 28 are awaiting SEBI nod to launch their IPOs and 18 others have received the regulatory approval. Most of the funds that the 18 IPOs have raised so far in 2018 are earmarked for business expansion, repayment of loans and working capital requirements. Several others have opted for the IPO route to give exits to their existing shareholders.

(DealStreet Asia)