BANGALURU -- Bankers and venture capitalists haven't immediately been rejoicing at the three initial public offerings launched on Indian bourses in late March. The IPOs ended a drought of almost two months after apparel maker Vedant Fashions' 31.5 billion rupee ($415.4 million) public flotation in early February, but combined they totaled a modest 3.9 billion rupees. Last year's ebullience in India's primary markets has given way to caution.
India has had just a handful of IPOs this year, a marked contrast to the fevered activity in 2021. (Source photos by Kosaku Mimura and Reuters)
Market Spotlight
India's IPO market revives, but caution is the watchword
Economic concerns and stock market swings bring an end to investors' ebullience
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