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India IPO returns beat US' as funds chase high-growth companies

Rajhkumar K Shaaw & Santanu Chakraborty  |  Mumbai 

Amid India's bull market celebration, it's the newcomers that are having the biggest parties. The 47 initial public offers (IPOs) priced this year have returned an average of 41 per cent, more than four times the climb in the benchmark S&P BSE Sensex, data compiled by Bloomberg show. The gain is double the 19 per cent mean for US deals, and ahead of the nine per cent offered by first-time sales in Europe, the figures show. Micro finance providers, a city-gas supplier, a staffing firm and a diagnostics chain are among companies that have raised $1.5 billion since January 1, more than ...

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First Published: Mon, August 01 2016. 22:42 IST