India, China IPO activity loses touch

The IPO activity in the Asia Pacific region has nearly halved in the first half of this year. This owes to the two fastest growing economies, India and China, reporting a drop of nearly $18 billion in mobilization of such deals. According to a global accounting and consulting firm Grant Thornton the total capital gathered by India Inc through IPO in the first half of 2008 stood at $4.07 billion as compared to $7.68 billion in the same period in 2007.