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Is the Indian market still bullish by way of sentiment? India Inc confirms this as companies are on a fundraising spree, amid a sustained rally in the stock market.

Over 150 companies have showed interest to raise capital worth around Rs 2.5 lakh crore through initial public offerings (IPOs), qualified institutional placements (QIPs), and follow-on public offerings, reported Business Standard on Monday.

Twenty-six companies have already filed their draft documents with the market regulator, Securities and Exchange Board of India (Sebi), which is likely to raise worth around Rs 62,000 crore from the primary market by end of the calendar year 2017.

Of the estimated amount of Rs 2.5 lakh crore, 60 percent of this amount is likely to be raised by companies from the banking, financial services and insurance sector. And of the 150 companies, 94 are likely to tap money from the IPO market totalling nearly Rs 1 lakh crore in coming months.

Large insurance companies like are like to raise amount ranging from Rs 7,000 crores to Rs 10,000 crore—with HDFC Standard Life Insurance estimated raise issue (Rs 10,000 crore), General Insurance Corporation of India (Rs 7,000 crore), the National Stock Exchange of India (Rs 10,000 crore), New India Assurance (Rs 7,000 crore), and SBI Life Insurance (Rs 7,000 crore) will be among the larger issuances.

Quoting Pranav Haldea, managing director of Prime Database, the business daily reported that, "This may be the best year for capital raising." Haldea further added, "The stock market remains buoyant and the coming months may see several companies backed by private equity and venture capital investors tap the primary market for an exit."

Despite the excess supply Indian stock market has performed better than most emerging markets in calendar year 2017, as foreign investors turned net buyer. Since the start of the calendar year the benchmark BSE Sensex rallying 18.6 percent, reported BS.

With nine railway public sector undertakings (PSUs), five insurance companies and four defence PSUs, the government is also ready to raise capital from the capital market to meet its disinvestment target of Rs 72,500 crore in fiscal 2018.

"There is enough investor appetite among both domestic and overseas investors. As long as the company fundamentals are sound, the sector is performing well and the pricing is reasonable, there will be enough takers for the offerings," said Haldea told BS.