India's equity capital markets are set for the biggest year in a decade, with a boost from the comeback of IPOs and a string of mega stock offerings at a time when the rest of Asia is struggling to recover from the Chinese stock-market debacle. At the end of the third quarter, total ECM issuance stood at Rsl.2trn (US$18.5bn) from 104 transactions, according to Thomson Reuters data. The IPO market, in a deep slumber for the last couple of years, has sprung back to life. According to the Securities and Exchange Board of India, 29 companies have raised Rs48bn through IPOs so far in 2015, compared with Rs4.6bn from 11 floats in the same period last year. listings that had been in the works for years, such as Adlabs, Inox Wind and VRL Logistics, finally managed to come to fruition.
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