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Indian IPO market upswing lures more companies

MUMBAI (NewsRise) -- India's primary market has gone from strength to strength over the last 18 months, but more big ticket offerings are in the offing, including an estimated $800 million stock sale by ICICI Bank's insurance arm, slated to be the biggest local IPO in six years.

Indian companies are estimated to have raised as much as $1 billion in the first half of the year, with about $860 million coming from the latest quarter ended June 30, making it the highest quarterly primary market fund raising in more the nine years, according to researcher Prime Database.

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