Clock Ticks for a Dozen Indian IPOs as Approvals Near Expiry
The Bombay Stock Exchange in Mumbai.
Photographer: Dhiraj Singh/BloombergA wave of initial public offerings in India is at risk, with their approvals nearing expiry as a downturn of equities is making companies more cautions about coming to the market.
Among prominent names within two months of their deadlines, EQT AB-backed education loan provider Credila Financial Services has been planning to raise about 50 billion rupees ($536 million). Other prospective issuers include Dorf-Ketal Chemicals India Ltd., which has been attempting to sell shares for nearly a year, as well as non-bank lenders Hero FinCorp Ltd. and Veritas Finance Ltd.