Another IPO Record? Despite Sensex Slump, Over 200 Companies Ready For Market Debut
Despite a slump in the Sensex, India's IPO market is experiencing a record-breaking year with over 200 companies preparing for market debuts. Strong domestic liquidity and institutional demand are driving this resilience, even as the broader equity market faces volatility.
Why it matters
This demonstrates the decoupling of primary market fundraising from secondary market performance in the Indian economy.
India's initial public offering market is heading toward a third consecutive blockbuster year, with a packed pipeline to build on its third-quarter momentum, punctuated by blockbuster deals.Listing proceeds surpassed $9 billion in July-September, the most ever for the period, according to data compiled by Bloomberg. That pushed total fundraising so far this year to more than $13 billion and on track for one of the best years in history, the data show. FOLLOW MARKETS LIVE UPDATESDeals in India ramped up after a more subdued start of the year, in a large part thanks to large initial public offerings by National Stock Exchange of India Ltd., SBI Funds Management Ltd. and Manipal Health Enterprises Ltd. -- which together raised more than $4.3 billion. The pace underscores the resilience of India's primary market even as the broader equity market struggles with volatility and weaker investor sentiment.
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