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Article: SLUGGISH 2008 ON IPO STREET LEAVES BIG INDIAN BACKLOG FOR 2009.
- Article from:
- AsiaPulse News
- Article date:
- January 22, 2009
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NEW DELHI, Jan 22 Asia Pulse - It was the most-loved instrument of Corporate India for many years, when funds were needed, but it was likely to face tough times again after falling flat on its face during 2008.
This had resulted in a backlog of close to Rs 75,000 crore ($US15.27 billion) worth of IPO plans by about three dozen companies.
After trying unsuccessfully in 2008, these firms are holding back their IPO plans for the right market conditions, which experts believe is unlikely before the end of 2009.
While any new issue is unlikely to come in the near future, the overall size of the IPO backlog from 2008 is itself more than four times of ...