It has taken five years and one month, but the Indian government last week finally managed to complete the IPO of a state-owned company for the first time since it sold civil engineering group NBCC in April 2012. At a little under US$200m the Housing and Urban Development Corp float was modest by global standards, but the books were covered almost 80 times, raising hopes of a 30% to 40% first-day pop when trading begins.
展开▼
