India IPO market in 2016 seen hitting 6-year high, with over US$5b raised
Mumbai
INITIAL public offerings (IPOs) in India are set to raise more than US$5 billion in 2016, a six-year high, as corporate profit growth and a pick-up in the economy drive investor demand for equities and lure firms such as Vodafone's local unit to list.
India has been a bright spot in an otherwise dull Asian IPO market in 2015, with companies in the country raising a combined US$2.1 billion, a seven-fold jump over the previous year. In contrast, sums raised by bigger markets such as Hong Kong and Australia have fallen.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Hong Kong faces uphill battle to lure back Chinese tourists
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April
China travel surges for May holiday but consumers remain wary
Macau casinos remain resilient in April as consumers seek fun