Energy Markets
India's NSE will launch an IPO amid investor caution about derivative-fueled growth
Investors are cautious about capital market firms due to declining derivative trading volumes. This has already affected the price of the offering. The IPO of 'India's largest bourse, which is set to be third-largest in the country's history, will 'begin' with anchor investor bids from institutional funds. It's an offer for sale from existing private investors and no new capital is being raised. Open subscriptions begin Thursday and end on September 21. Investors will be asked to value one of the world's biggest derivatives exchanges at a moment when its main growth engine has slowed down. This raises questions about...