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The reason Sterlite Industries (India) (NYSE: STL proposed) cannot be found on the IPO calendar is that it is a secondary offering.

The street sign at the corner of Broad and Wall says “one way,” but don’t believe it. Stocks went south last week while IPOs headed north, and one new issue soared to the top of this year’s IPO winner’s list.

Now June is upon us, you’ll start hearing people talk about “the summer doldrums” for the IPO market. Don’t believe it. Facts don’t support this myth.

Only a traditional holiday break was able to slow down today’s IPO Express. Bankers have just three deals on the Memorial Day holiday week’s new-issues calendar. But the IPO market’s recent fast pace looks likely to continue.

This week’s equities calendar is large — 25 deals. Sixteen are secondary offerings and nine are IPOs. But in this crowd, some appearances are deceiving.