Indian share sales may hit $30b in 2010: JPMorgan
Wednesday, 27 January 2010
MUMBAI, Jan 26 (Reuters): JPMorgan expects share sales in India to reach as much as $30 billion in 2010, a 50-per cent increase, led by government stake sales and IPOs by power and property firms, its India investment banking head said.
"This year is going to be all about IPOs and government sell-downs," Vedika Bhandarkar said in an interview. "There may also be a second round of fund raising from some firms that raised money last year," she said.
Indian firms raised $20.2 billion from share sales in 2009, mostly through follow-on offerings, a 181-per cent increase from a year earlier, according to data. IPOs accounted for just $4.1 billion of the total.
"This year is going to be all about IPOs and government sell-downs," Vedika Bhandarkar said in an interview. "There may also be a second round of fund raising from some firms that raised money last year," she said.
Indian firms raised $20.2 billion from share sales in 2009, mostly through follow-on offerings, a 181-per cent increase from a year earlier, according to data. IPOs accounted for just $4.1 billion of the total.