Indians Pour Their Family Savings Into IPOs, Stoking Bubble Fear
Regulators try to tamp down the market frenzy, to little effect.
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India’s red-hot IPO market has become a family affair for Nitin Gupta, a 29-year-old in the central city of Indore.
A surge in initial public offerings and strong first-day gains this year by the likes of real estate lender Bajaj Housing Finance Ltd. are driving a growing number of middle-class workers like Gupta to seek a piece of the action. He’s enlisted family members to open multiple trading accounts, hoping to boost his chances of securing share allotments.