With the rising equities markets, we are definitely seeing renewed interest in IPOs. Here’s a look at Wednesday’s offerings:

Emdeon (NYSE: EM): I call this the “Obama IPO.” The reason is that Emdeon operates the largest platform to handle healthcare transactions (billing, collections, ePrescriptions and so on). And, with the pressures for cost cutting, Emdeon should be a big beneficiary.

InfrastruX, which is a construction provider for gas and electric companies, has filed to go public. The offering – which could raise as much as $290 million – will be on the New York Stock Exchange (the proposed symbol is IFR).

A spinout of Puget Sound Energy (PSD), InfrastruX has engaged in a variety of acquisitions to bulk up. For example, last year the company posted sales of $827 million (there are 605 customers). However, there was a net loss of $36 million.

Fortinet builds solutions for network security (known as Unified Threat Management or UTM). As seen with the hacks at Twitter and Facebook, it’s still a dangerous world on the Web. So, even though information technology (IT) budgets have tightened, companies are still buying security solutions.

Fortinet has about 13.9% of the UTM market. And, the market is expected to go from $1.3 billion in 2007 to $3.5 billion in 2012 (according to a study from IDC).

As a private company, GM has no obligations to report quarterly and annual results. However, in light of the US government’s investment in the firm – and the taxpayers’ interests — the automaker will nonetheless continue its periodic reports. Actually, there will be different reports – one for the “old GM” (which is in liquidation) and the “new GM” (created through the bankruptcy process).

Like any investor, the US government wants to ultimately get liquidity. Interestingly, this means that GM is expected to pull off a public offering next year (yes, another reason to keep the filings in motion).

Hyatt Hotels (H), which is controlled by the Pritzker family, has filed to go public. The offering will certainly garner lots of attention in the fall.

A few years ago, the private equity arm of Goldman Sachs, as well as Madrone Capital Partners, invested in Hyatt. The main purpose was to provide liquidity for various family members.

Ancestry.com (ACOM) is no dot-com flim flam. The company – which is the largest in the online genealogy space – has nearly one million paid subscribers. In fact, for the first half of 2009, revenues came to $108 million, with profits of $8.2 million. Revenues and profits for the same period last year were $95 million and $1.2 million, respectively.

Now, there will be another chapter in the life of the company: an IPO. The offering is likely to hit the markets in Q4.

HSBC Holdings Plc (HBC), which is the largest bank in Europe, has retained two Chinese investment banks: China International Capital Corp. and Citic Securities Co. Apparently, the firm wants to list its shares in Shanghai, raising up to $5 billion (this would likely happen in the first half of next year).

Actually, this would be a first-time for a foreign firm. But, expect others to do so (especially mega multinationals).

KKR (KFN) will have a busy week. One of its portfolio companies, Avago (AVGO), will go public (back in 2005, KKR and Silver Lake purchased the company). Interestingly enough, KKR’s Capital Markets Division is an underwriter on the deal. Yes, it’s a nice way to get more fees. At the same time, it’s ruffling some feathers on the Street.

But, this won’t be the end of the action. In fact, according to a report in the FT.com, KKR is planning to take five more companies public over the next year. Some will include names like: Toys R Us, HCA, First Data, TDC (a European telecom firm) and Dollar General.

Over the past year, I’ve written a variety of pieces – on raising capital – for BusinessWeek Online. It’s been great.

Unfortunately, the parent company, McGraw-Hill (NYSE: MHP), has retained an investment bank, Evercore Partners (NYSE: EVR), to sell off the operation.

Back in 2007, Microsoft (Nasdaq: MSFT) shelled out $6 billion for aQuantive. The primary purpose was to pick up key online advertising assets. But, Microsoft also got something else: Razorfish, which is an interactive agency.

AOL is a symbol of the craziness of the dot-com era. Yet, at the end of the day, the site still has a lot of scale In fact, it generates huge amounts of cash flows.

Considering this, it looks like AOL will take on debt as it preps for its spinoff from Time Warner (NYSE: TWX). This is according to a report in Bloomberg.com.

Guidance Software (NASDAQ: GUID) has a strong suite of software applications, which help manage complex litigation. However, the company has suffered over the past year – and it’s more than just the macroeconomic situation.

In Q1, revenues came to $18.7 million, down 14% from the same period a year ago. In fact, product revenues plunged 24% to $8.4 million.

SuccessFactors (Nasdaq: SFSF) offers a suite of online applications to help with employee performance and talent management. But, with the grim recession, shouldn’t business be ailing?

Not necessarily. Even in tough times, companies still need to deal with the complexities of human resources. And, for the most part, SuccessFactors has a compelling value proposition.

Deltek (PROJ), which has more than 12,000 customers, develops sophisticated enterprise software to help with project management. The company targets a wide array of industries like architecture & engineering (A&E), aerospace, government construction and so on.

However, as seen with the Q1 results, the business has been fairly soft. Total revenues came to $62 million, down from $69.4 million in the same period a year ago. During this time, license revenues plunged from $17 million to $11.2 million. Oh, and consulting revenues fell from $24.3 million to $20.1 million. A big hit came from the bankruptcy of Bearingpoint.