If you wanted to put a banker’s faith in the mantra of ‘long-term greedy’ to the test, the Indian IPO scene would not be a bad place to start. There has been the promise of gold at the end of the rainbow in India for many years, but the riches have remained as elusive as the leprechaun’s pot.
Fee suppression is a constant grumble that has tested the patience of many veteran dealmakers, often prompting the question of whether or not it is worth doing business there.
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