Among the non-IT sectors, pharma appears to be a fancied one with investors. Recently, the Glen Pharma issue was oversubscribed 53 times. The Rs 15 crore offer for sale from S Kumars Power Corporation has been oversubscribed by more than two times the initial size, say market sources. However, even with the minimum of marketing effort, the company is believed to have received around 31,000 application from the retail investors.

The issue closed for subscription on December 20. On completion of the issue, the S Kumars Power Corp scrips will be listed on the Mumbai and the National stock exchanges.

``The tremendous response from the retail investors, even in the absence of any marketing effort on the part of the company, shows that the primary market is strongly on its path to revival,'' said a power sector analyst.

``During the recent times, it's only the companies from the knowledge driven sectors have been coming to the market to mobilise funds. But even an initial public offering from a company from the infrastructure sector receiving good public response is definitely a good sign,'' the analyst said.