There has been a positive trend in the IPO market since 2003, following a deep slump in 1999 after the burst of the IT stocks. The repercussions of this were severe and investors took a long haul to regain their confidence. But now that the stock market is doing well, the same is expected of IPO markets as well. This can be assumed, because, in the year 2003, revenues generated through IPOs were close to $118 billion, from 1100 deals. China was a major contributor to this with two thirds of the share. Indian IPO markets were also gaining back after the series of scams. During this time, the major emphasis was on companies with good foundations, rather than those with better revenues and profits. The incorporation of Sarbanes-Oxley Act also did not hamper the upswing of the IPO activity despite its higher costs. Apart from this, certain stringent norms were decided upon with respect to ratings, disclosures, know your customer (kyc), etc.This book attempts to give readers some perspectives of the global IPO markets, while stating some global and Indian experiences. The global section basically covers the international IPO markets and how they are faring, while the Indian section talks about how the investors’ confidence is, time and again, challenged by the IPO markets.
There are no reviews yet.