India IPO deals head for record year on first half surge

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By John Loh, Jonathan Breen
14 Jul 2016

Indian equity capital market volumes may be down on last year, but there is no dearth of IPOs. The animal spirits are clearly present in the country as confidence grows in new companies, which are coming in greater numbers to tap both foreign interest and a resurgent domestic investor base. Jonathan Breen and John Loh report.

So far this year, India’s IPOs have tended to be hugely oversubscribed. Recent successes include L&T Infotech, a unit of conglomerate Larsen & Toubro, which came to the market this week looking for as much as Rp12.4bn ($185.4m) and closed books on Wednesday nearly 12x covered.

The deal ...

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