India is a promising market for initial public offerings with two of its premier stock exchanges, BSE and NSE, registering the maximum number of IPOs in the Europe, Middle East, India and Africa (EMEIA) region worth $1.8 billion, says an EY report. According to the quarterly EY Global IPO Trends: 2016, the surge in IPO activity was largely being driven by higher investor confidence in the Indian economy and continuing regulatory reforms.
“Year-to-date, India's Bombay and National stock exchanges have been the most active in the EMEIA region by volume with 56 IPOs raising $1.8 billion,” the report said. The report further noted that the country’s Bombay Main Market and SME Board were the most active exchanges by deal number within EMEIA in the July-September quarter of this year with a combined total of 15 IPOs, ahead of the london Main Market and AIM with seven. According to EY, the re-emergence of larger listings, those with an average size touching the $100 million mark, could help India reach the expected target of $5 billion in proceeds by the end of this year.
