A flurry of initial public offerings (IPOs) is expected to hit the market in the next three months. This is despite the ongoing lull and the increased volatility in the Indian equities owing to concerns over Eurozone. The IPOs will be in sectors ranging from real estate to infrastructure to education.

Foreign bank Standard Chartered Plc is coming out with Indian Depository Receipts by this month-end to mop close to Rs 4,500 crore, as per reports.

?Business confidence and fundamental performance of companies remain strong. The IPO market will not get affected by what?s happening globally,” said Gyan Mohan, executive VP and head, investment banking, IDBI Capital. April and May have traditionally seen low IPO activity. The market tends to be volatile in April as results start pouring in and companies update their accounts for the full year in May. So, companies wait till May-end or early June to tap the capital market. There have been no IPOs in May so far.

The government aims to raise about Rs 40,000 crore through stake sale in state firms in 2010-11. Engineers India and Coal India are slated to hit the capital market in June and August respectively, while the Hindustani Copper issue is likely in August/September.

At about Rs 12,500 crore, Coal India might be the biggest IPO to hit the capital market. Investment bankers believe that such a large issue will not hinder the prospects of other issues as there is ample liquidity in the market. Institutional and not retail participation will be critical for its success, they also feel.

A host of private sector companies are lining up to hit the market. Investment bankers feel that Jan Infraprojects and J Kumar Infraprojects (real estate), Bhaskar Power Projects (power), Apollo Pharmacy (healthcare) and Career Launcher (education) may hit the market.

Realty companies Lodha Developers (estimated issue amount Rs 3,000 crore), Emaar MGF Land (Rs 3,850 crore) and Oberoi Realty (Rs 1,000 crore) have got Sebi approval. In infrastructure, PNC Infratech, Sterlite Energy and Indosolar have got the Sebi nod.