India emerged as one of the most active regional markets for initial public offerings (IPOs) with 26 such offerings in the first three months of 2017, as per a quarterly report by consultancy firm EY. The Europe, Middle East, India and Africa (EMEIA) region ranked second behind Asia-Pacific by number of IPOs in the first quarter of 2017, accounting for 21% of the global total. By proceeds, the region ranked third behind Asia-Pacific and the Americas, accounting for 15% of the global share. The quarter saw a total of 77 IPOs in the EMEIA region raising $5.2 billion. This was an increase of 8% in terms of number of IPOs and 0.5% in terms of proceeds as compared with the same period in 2016. In the EMEIA region, IPOs were well-balanced across sectors. Consumer products, financials and consumer staples were the three most active sectors by number of IPOs during the period. In terms of proceeds, real estate raised $1.4 billion via seven IPOs, followed by consumer products with $1.3 billion via 10 IPOs and retail with $786 million via five IPOs. Globally, it was the most active March quarter by number of IPOs since the first three months of 2007, with 369 IPOs raising $33.7 billion, a 92% year-on-year increase in number of IPOs and a 146% increase in proceeds.

(Live Mint)