India IPO gold rush becomes foreign firms’ cash-out machine

Foreign firms are increasingly cashing out of India's booming IPO market, pocketing billions instead of raising capital for expansion.

Recent listings, including major players like Hyundai and LG, saw over $5 billion flow overseas.

This trend, driven by high valuations, raises concerns about capital outflows and the rupee's stability, with policymakers questioning IPOs as exit routes. ...