Indian companies raised nearly $2 billion through IPOs in the fiscal year 2016-17. In fact, during the fiscal year 2017-18, Indian companies raised nearly $8 billion through IPOs. This excludes the amount that the government of India will raise through its disinvestment process. We have had previous IPO booms in 1992, 1999 and again in 2007 and 2010. The revival in IPOs started after a long break in the year 2015 end.