New Delhi, Dec. 3 -- It has been a blockbuster year for India's primary market as 93 initial public offerings (IPOs) have hit Dalal Street till November so far, and three more are set to kick off today. With the launch of these IPOs, the annual IPO haul will surge past Rs.1.6 trillion - surpassing the previous year's record to hit the highest ever.

Last year, the funds raised via 91 IPOs stood at Rs.1,59,783.76 crore. Now, the Rs.5,421 crore Meesho IPO, along with Aequs IPO (worth Rs.921 crore) and Vidya Wires IPO (worth Rs.300 crore), will push the IPO fundraising to Rs.160,698.36 lakh crore for the year so far.

"The scale of fundraising shows the IPO market is maturing beyond cyclicality. What's powering this surge is the emergence of...