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Asia300

Indian IPO market poised to reach record as investors bet on Modi reforms

  © Reuters

MUMBAI (NewsRise) -- The initial public offerings of Indian companies are poised to touch a record this fiscal year as a strong investor appetite for stocks in Asia's third-largest economy spurs a boom in primary market.

A clutch of private and state-owned insurance companies -- HDFC Life, SBI Life, National Insurance Co. and General Insurance Co. -- are set to tap the stock market later this year with offerings worth as much as 370 billion rupees ($5.79 billion).

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