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Expect IPOs worth Rs 10000-15000cr in FY16: Kotak Invt Bank

Despite the recovery in broader equity markets, excitement in the primary market continues to remain muted with not too many initial public offerings (IPOs) coming through.

Despite the recovery in broader equity markets, excitement in the primary market continues to remain muted with not too many initial public offerings (IPOs) coming through.

But V Jayasankar, senior executive director and head of equity capital markets, Kotak Investment Banking, said that he expects the IPO pipeline to firm up going forward.

“We expect IPOs worth around Rs 10,000-15,000 crore coming through in FY16,” he told CNBC-TV18 in an interview. He added that he expects overall fund-raising including secondary issues to witness total fund raising of Rs 50,000 crore next fiscal.

Two of Kotak’s own recent issues, Ortel Communications and Adlabs, too witnessed moderate responses with both being subscribed a little over time their sizes. But Jayasankar said both issues were high-quality with long-term investors subscribing majorly.

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