India Keeps $5.4 Billion Worth of IPOs Alive With Relaxed Rules

India is keeping initial public offerings worth more than 500 billion rupees ($5.4 billion) alive by extending deadlines to give companies more time to list.

The Securities and Exchange Board of India on Tuesday extended the deadline for IPO approvals set to lapse by much as six months. The move, which followed requests from prospective issuers grappling with market volatility, impacts about 40 companies, according to data from SEBI and Prime Database Group.