Wednesday, 12 April 2017

India active IPO market and 26 firms raise $619 mn in Q1: EY

India was among the most active IPO markets in the EMEIA (Europe, Middle East, India and Africa) region, with BSE and NSE (national Stock Exchange) registering 26 IPOs worth USD 619 million in the first quarter this year, says an EY report as per the PTI. Mainboards of the two exchanges together saw four initial share sale offers of USD 573 million. In addition, 24 firms raised USD 46 million from IPOs through small and medium enterprise platforms of BSE and NSE. Executive Director with an Indian member firm of EY Global, Vish Dhingra said: "India saw a promising start to the IPO activity in the first quarter despite global political uncertainty setting a stage for an accelerated growth throughout the year." India's re-emergence as a strong, well-governed economy gives further impetus to inbound investors' interest, he said, adding that with "positive macroeconomic factors, continuing regulatory and tax reforms and a robust investor and business sentiment, 2017 promises to be a healthy IPO year". The report noted that India and the UK were the most active markets within EMEIA, with 26 and 12 initial share sale offers respectively, followed by Saudi Arabia with seven public issues.

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