 "ipo")
The market for initial public offerings in India is turning into a feeding frenzy.
The amount of money raised in IPOs this year has reached $8.8 billion, already surpassing the totals of the past three years though it’s only August. At the current pace, 2021 would exceed the all-time record of $11.8 billion. Founders, bankers, lawyers and advisers are racing to cash in on fervent demand for fresh public offerings.
The catalyst, in a word, is Zomato Ltd. The food-delivery startup went public in July and, despite deep losses and mediocre prospects for profitability, shares have soared more than 70%.
