34 IPOs to hit Indian market in H1 Recommendation Research Analysis Reports Discussion BseIndia

It will be raining initial public offers (IPOs) in India during the first half of 2008. As many as 34 issues will hit the capital market raising an estimated $14,171.7 million, an increase of nearly 300% over the corresponding period last year. This would make India the fastest growing IPO market in the first half of 2008 in the Asia-Pacific region.

According to the report, India will capture around 26% market share to stand on the second pedestal after China ($25,609.3 million; 47% market share) in the $54,932.5 million Asia-Pacific region market in the first half of 2008.

In terms of sheer numbers, Reliance Power ($2,500 million) and Emaar MGF ($1500 million) will be the second and fifth biggest IPOs in the Asia-Pacific region, according to estimates of Thomson Financial. Reliance Power, set to come out on January 16, will be India’s largest IPO on record shattering DLF’s IPO record worth US$2300 million launched in April 2007.

Source: ET