Companies are cutting deal sizes, accepting lower valuations and postponing offerings, signaling the bull-market window for new stock sales is narrowing.
India's initial public offering proceeds have dropped by roughly 20% from a year earlier as issuers rein in fundraising plans amid weakening market conditions. Companies are reducing deal sizes, accepting lower valuations and shelving some listings, a combination that suggests the favorable bull-market backdrop for bringing new shares to market is fading. The development points to a more selective environment for equity capital raising, where issuers may need to compromise on pricing or delay transactions until sentiment improves.