India 2016: Recent IPOs sees strong interest in weak, volatile markets

People are reflected on an electronic board displaying a graph showing the movement of Nikkei share average outside a brokerage in Tokyo

Recent primary market issues have managed to see a strong response despite the turmoil in stock market. Three initial public offerings (IPOs) so far in 2016 have received strong investor participation at a time when benchmark indices have lost nearly 13%.

Quick Heal Technologies Ltds on Wednesday saw investors put in bids more than 11 times the number of shares on offer, even as the benchmark Sensex declined for the third straight session to end at 23,758.90, a level last seen in May 2014. The issue, however, closed before Thursday’s steep fall. The 30-share gauge erased 800 points to close below the 23,000-mark on Thursday amid a global sell-off, while the Indian rupee closed at a fresh 29-month low.

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