Indian blocks light up equity markets

Recent government divestments and secondary share sales have created some momentum for India’s equity capital markets, although total deal volume is still far from last year.

India has become one of the bright spots in the relatively slow Asia equity capital markets since late February following the completion of four block trades within a period of three weeks.

The latest deals to hit the market are the Indian government’s divestment of a 5% stake in Container Corporation of India Concor and a selldown of shares in Bangalore-based technology consulting company Infosys by two of its co-founders. Both deals were completed on Thursday.

Both were brought to the market after the government raised $732 million from the sale of a 5% stake in India’s largest power producer NTPC as well as a $300 million...

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