stock-market-turmoil-affects-indian-ipos-too

Stock market turmoil affects Indian IPOs too

Wockhardt Hospitals and Emaar MGF Land lower their indicative price bands on the eve of opening the bookbuilding.
While there has been no visible slowdown in the pace of Indian companies seeking to go public so far, the reduction of the targeted deal sizes by the latest two listing candidates shows India isnÆt entirely immune to the pressures felt elsewhere in Asia.

Wockhardt Hospitals and Emaar MGF Land both lowered their earlier announced price ranges before opening the bookbuilding on their respective initial public offerings, in a direct response to the decline in the secondary market over the past three weeks.

Sources note that the initial investor response to both offerings has been encouraging, but the recent drop in the share price of many of their sector peers has also made their targeted...
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