Ami Shah

Last year, the IPO market witnessed an all-time record fundraising of ₹67,147.4 crore with 36 companies hitting the market, according to Prime Datab

The benchmark Sensex shed almost 1,850 points, or 5.1%, in the last one week to close at 34,376.99 on Friday.

Aavas Financiers IPO, which was open from September 25 to September 27 at a price band of Rs 818 to Rs 821 per share, was subscribed 97%.

Aavas has fixed its price band at Rs818-821, aiming to raise up to Rs1,734 crore at the upper end of the price band.

Out of 21 initial public offers (IPOs) in 2018, shares of 11 companies now trade below their issue price.

In the past decade, Merrill Lynch, Goldman Sachs, Nomura, JP Morgan, Deutche Bank were among asset managers that exited the Indian market.

Among banks, it was the best listing since RBL Bank Ltd, which debuted on the bourses in August 2016.

Bandhan Bank shares opened 29.33% higher on the BSE at Rs485 apiece, compared to the issue price of Rs375.

Bharat Dynamics was the first state-run company to be listed in 2018.

Public sector banks, following the government push, have also been offloading non-core assets in a bid to shore up capital levels.