India active IPO market; 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 registering 26 IPOs worth $619 million in first quarter this year, says an EY report.

Main boards of the two exchanges together saw four initial share sale offers of $573 million. In addition, 24 firms raised $46 million from IPOs through small and medium enterprise platforms of BSE and NSE.

The EMEIA region saw 77 IPOs worth $5.2 billion. According to the quarterly EY Global IPO Trends: 2017 Q1, as many as 369 IPOs garnered $33.7 billion worldwide. Of this, US alone saw 34 IPOs raising $12.5 billion.

Asia-Pacific, led by Greater China, saw listing of 258 companies raising over $16 billion. In China, bourses hosted 182 initial share offers worth $12.4 billion.
 

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.”