India’s IPO Market Desperately Needs Some Mega Deals: ECM Watch
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India may need a savior for its initial public offering market, with proceeds raised since January falling to a five-year low.
The eight companies that have listed in 2020 have raised just $7.3 million, according to data compiled by Bloomberg. Their deal size has been tiny -- $900,000 on average, with Hindprakash Industries Ltd.’s $1.6 million share sale being the largest. Their performance has also been far from stellar as their shares have climbed 1.8% on average, weighed by offer size, compared with a 5% advance in the MSCI India Small Cap Index through the last close.