Indian founders make hay with IPOs amid rally, but investors suffer

Indian founders make hay with IPOs amid rally, but investors suffer

The building of the Bombay Stock Exchange in Mumbai. Credit: Wikimedia Commons

Indian entrepreneurs are making windfalls in initial public offerings, but about one-fourth of the companies that hit the bourses amid a rally beginning in 2021 have tanked, raising questions about whether the bull market triggered overpriced IPOs.