
India’s primary market is witnessing a strong IPO rush, with multiple public issues opening for subscription at the same time. With several IPOs competing for investor attention and capital, concerns are rising over whether liquidity is shifting from the secondary market to new listings. Abhishek Basumallick, Co-founder & Fund Manager, Shree Rama Managers, explains how investors often move money from the secondary market into IPOs during periods of strong primary-market activity. The discussion also looks at IPO flipping, selective investment and how a crowded IPO calendar could impact secondary-market performance and overall liquidity.