India’s surging stock market is fuelling a rush of initial public offerings, but some investors are becoming worried about the poor performance of many of Mumbai’s listings.
Investors and analysts said the upbeat outlook for India’s economic growth, improved corporate earnings and strong demand from foreign investors are providing a tailwind for deals, with Dealogic data showing 21 IPOs raised about $678mn in January, compared with $17mn a year ago.
More listings are expected: a total of 66 companies have filed listing documents with Indian regulators, according to brokerage IIFL.
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