India’s stock markets have been one of the world’s best performers in 2017 and their continuing strength could prove to be the swing factor, which helps clear a $6 billion wave of sizeable and richly valued initial public offerings from the country’s insurance sector by year-end.
The group of six companies are led by ICICI Lombard, which launches its IPO today Friday.
Its $890 million deal is one of the smallest of the near-term pipeline, which breaks a seven-year drought in billion dollar offerings by dropping four onto the market all in one go.
On a macro level, the flotations are eagerly...
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