New Delhi, Oct. 3 -- Public offerings worth more than Rs.1 trillion are impatiently waiting in the wings, ready to unleash a wave of capital-market activity.

Kicking off the action this Friday is WeWork's Rs.3,000 crore issue. But the real behemoth on the horizon is Tata Capital - its Rs.15,512-crore offering is set to be the fourth-largest in Indian history. However, history shows that the biggest IPOs often lead to the biggest disappointments.

Meanwhile, few companies this year have recorded huge gains upon listing. Urban Company was an exception, with an overwhelming response and a bumper debut. In such a scenario, the main question on investors' minds is whether the market will welcome the new wave of IPOs or whether it's headed for...