IPO march may stall

Despite the traction in the secondary markets, March could end up as a weak month for initial public offerings (IPOs). The operators of Radio City and D-Mart will launch IPOs early next month. Bankers say besides these two there are hardly any other IPOs lined up for the month. “Although liquidity and market conditions are conducive for IPOs, not many companies are ready to hit the market. Some companies, such as Central Depository Services Ltd (CDSL), which want to hit the market, are facing regulatory hurdles,” said an investment banker. Industry players say the outcome of state elections is seen as an uncertainty by issuers and they want to wait and watch.