JPMorgan Sees India Building on Record Levels of IPO Activity

The volume of Indian initial public offerings is poised to grow as companies and private equity firms monetize their investments, according Anu Aiyengar, global head of advisory and M&A at JPMorgan Chase & Co.

Investors are betting that India will build on last year’s record, when nearly $21 billion was raised in IPOs, including the country’s biggest-ever listing — by Hyundai Motor Co.’s local unit — and two others that exceeded $1 billion.

With more money flowing in and a growing number of investors, IPO levels “could be much higher” going forward, Aiyengar said in an interview ...