Hungry fund managers are angry with India, call for fixing upstairs market

Global investors are urging the Securities and Exchange Board of India to fix the upstairs market

As all institutional investors know, purchasing shares in bulk can be a real pain in India. Traders at a biggish asset manager would be lucky to fill even a fifth of the entire demand from individual funds. The rest will become a feast for unrelated buyers.

It’s a design quirk, which grew out of a misplaced egalitarian sensibility and a fear of mischief by business families.

The idiosyncrasy is not without its costs. Imagine what would happen if a Nike store owner tried to accommodate a wholesale buyer inside a packed retail showroom by shouting to everyone that the next 15,000