MUMBAI: The Indian capital market is set to witness one of the busiest fortnights in its history as six companies have lined up to together raise about Rs 31,400 crore by November 10. The six issues include the one from tech-enabled payments major One 97 Communications, operating under the Paytm brand, which aims to raise Rs 18,300 crore. Paytm has priced its IPO shares in the Rs 2,080-2,150 band per share, indicating the company seeks a valuation of about $20 billion. This will make the Paytm IPO the largest ever in the country’s history. Till date the biggest IPO in India was the Rs 15,500-crore offer by Coal India in October-November 2010. According to market sources, this could have two major implications for Dalal Street and the economy. First, there are fears among traders that the deluge of IPOs could force several investors to offload part of their portfolio and divert that money to invest in these offers, especially for listing gains. Second, the inflows from foreign funds, estimated to be about 40-50% of the total offer, could mean Rs 12,000-15,000 crore of forex inflows. This, in turn, could help appreciate the rupee. On Thursday, despite a sharp sell-off in the stock market, the domestic currency closed 11 paise stronger at Rs 74.92 to a dollar. Usually, the day the stock market slides sharply, the rupee also weakens against major currencies like the US dollar, euro, pound sterling and the Japanese yen. Thursday’s strength in the domestic currency came despite a Rs 3,819-crore net selling by foreign funds, BSE data showed. According to a note by the forex advisory firm IFA Global, the strength of the rupee was “because foreign banks sold US dollars for overseas investments into Indian companies raising funds through initial public offerings”. In addition to the big ticket listings, three more high profile IPOs are also lined up after these got the Sebi green signal in the last few weeks. Adani Wilmar is eyeing Rs 4,500 crore, One MobiKwik is expected to raise Rs 1,900 crore and the offer size for Star Health is expected to be in excess of Rs 3,000 crore, market sources said. These offers could open anytime now, merchant bankers said. The government is also planning to list life insurance behemoth LIC before the end of the fiscal year through its IPO. This offer is expected to garner anything between Rs 70,000 crore and Rs 1 lakh crore, merchant bankers said.