Best start to financial year for the primary market in three years

The S&P BSE Sensex and the Nifty50 hit their respective new lifetime highs last week. In the past month alone, both these indices have rallied 6 per cent and 5 per cent, respectively

The financial year 2019–20 (FY20) has seen the best start for the primary market in the last three years, with the initial public offers (IPOs) of Metropolis Healthcare and Polycab India raising Rs 2,550 crore on the back of strong response from institutional investors. 

The fund mobilisation in April 2019 is highest in the last nine months, since July 2018, when two companies had raised Rs 3,925 crore from the primary market. In April last year, not a single company hit the market to raise funds via this route, while in April 2017, S Chand & Company -- the sole