India To Witness IPO Deals Worth $6 Billion In H2: Media Report

Posted By: Religare
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India's IPO activity in the second half of the year could witness over USD 6 billion in deals, with investors encouraged by a pick-up in economic growth, reported Reuters.

India To Witness IPO Deals Worth $6 Billion In H2: Media Report

Reuters said that the interest in Indian listings was strong even in the immediate wake of the British decision to exit the EU. Last week staffing firm Quess Corp saw its IPO oversubscribed 144 times while shares in city gas distributor Mahanagar Gas jumped 30 per cent in their market debut.

Larsen & Toubro Ltd, whose software services unit, L&T Infotech, announced on Monday the launch of an IPO on July 11, was also upbeat.

First-half IPO activity jumped nearly 80 percent with the market on track for its best year in six. The January-June period this year also marked the highest volume in Indian IPOs for a first-half period since 2010, the Thomson Reuters data showed.

Going ahead, the key deals will include the India unit of British telecoms group Vodafone which is planning an offering worth as much as USD 2.5 billion and ICICI Prudential Life Insurance Co Ltd's up to USD 1 billion listing.

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