BENGALURU -- Indian entrepreneurs are making windfalls in initial public offerings, but about one-fourth of the companies that hit the bourses amid a rally beginning in 2021 have tanked, raising questions about whether the bull market triggered overpriced IPOs.
The IPO boom in India is driven by a buoyant stock market that outperformed peers in China, Hong Kong and Japan. (Source photos by Ken Kobayashi and Kosaku Mimura)
Market Spotlight
Indian founders make hay with IPOs amid rally, but investors suffer
44 of the 183 companies that listed since 2021 are trading below their offer price
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