Nearly a decade ago, a loose group of mostly Indian Americans calling themselves ‘Friends of IIT’, and led by Silicon Valley entrepreneur Kanwal Rekhi, sought to raise an endowment to win for the nation’s prestigious IITs ‘functional autonomy’ from the government. Rekhi... [More]

A funny thing is happening in the market for IPOs, or initial public offerings. Let’s first look at the recent Adani Power IPO. In the age of electronic trading, the IPO was fully subscribed in less than an hour. When it finally closed, it had been oversubscribed by 21.64 times, with inves... [More]