IRCTC may not give fillip to IPO market amid turmoil in financial sector

Not much revival is likely in the moribund primary markets even in the afterglow of the huge investor response to the initial public offering (IPO) of state-owned IRCTC.

Industry experts say there may be few IPOs in the remaining part of the year and a pick-up in activity could be seen only during the first half of the next calendar year. 

Last week, the Rs 640-crore IPO of the state-owned, railway-ticketing company was subscribed more than 110 times, which is one of the highest. Such a good response encourages issuers and investment banks to hit the market.

However, volatility in