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IPOs seen reaching record by regulator amid stocks rally

Bloomberg  |  Mumbai/London 

Market regulator is forecasting initial public offerings (IPOs) to reach a record in the year ending March, as improved corporate governance standards and an equities rally attracts investors. Twenty one first-time sales raised Rs 4,940 crore ($735 million) in the quarter ended June, more than in any comparable period since 2010, data compiled by Bloomberg show. Eighteen offerings seeking Rs 6,100 crore have been approved by the regulator, according to New Delhi-based Prime Database. "My feeling is this fiscal year is perhaps going to be a record, going by the number of draft ...

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First Published: Sat, July 23 2016. 00:19 IST