A recently conducted study by Assocham reveals that India Inc has been working out IPOs worth more than Rs 16,000 crore this year, amid surge in stock market and signs of recovery shown by global markets. Information technology, infrastructure, hospitality and textile firms are gearing up to generate funds, according to the Assocham Financial Pulse (AFP) analysis.

Assocham president, Mr. Sajjan Jindal said: ''During first half of 2009, due to the superior performance of the Indian stock market -- second only to China in the Asia-Pacific region -- companies are weighing higher expectations from renewed investor sentiments to raise funds from the primary market."

The study reveals that venture capital investment has declined about 72 per cent in India, which is the major reason for Indian companies to raise money through IPOs. Infrastructure companies would lead the fund raising race; with power sector companies - including NHPC, Adani, india bulls and Eco Power - expected to raise an estimated sum of Rs 6,236 crore through forthcoming IPOs.

In the energy sector, Oil India Ltd and JSW group are expected to raise Rs 1,400 crore and Rs 1,000 crore for their infrastructure and logistics business. The hospitality and textiles sectors are also looking to raise funds worth Rs 301.12 crore and Rs 275 crore respectively.