A few trips to India ago, I wrote a piece on Deep Kalra of MakeMyTrip.com, an Indian online travel company that I guessed would be the first big Indian ecommerce IPO. Yesterday, the company made good on that—listing on Nasdaq and surging nearly 90%. It fell 5% today, but that’s not bad considering yesterday was the best one-day pop of any American IPO since 2007.

Does that mean a flood of… → Read More