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The value of the Indian rupee also fell.
On Wednesday, the value of the Indian rupee fell nearly 4 percent, its steepest daily decline in years.
McKinsey, a consultancy, estimates that the value of the Indian drugs market will grow from $6.3 billion in 2005 to $20 billion in 2015.
Nonetheless, the overall value of the Indian art auction market shot up from $3 million in 2000 to $100 million in 2010, according to Saffronart, an online auction house based in India.
The external value of the Indian currency has strengthened.
The falling value of the Indian rupee is "a matter of concern", Indian Prime Minister Manmohan Singh has told parliament.
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For every 1% rise in the value of the rupee, Indian software-services exporters lose 30 basis points to 50 basis points from their operating margins.
The offerings are expected to raise an estimated $6.13 billion, an amount greater than the total value of all Indian initial public offerings of the last decade.
In May, Vodafone wrote down the value of its Indian operations by £2.3 billion ($3.5 billion).
[C11.] Flood of Offerings in India's Hopes Stock offerings in India in the next year or so are expected to raise $6.13 billion, greater than the value of all Indian initial offerings in a decade.
Last year in May, Vodafone took a $3.5 billion write-down on the value of its Indian business, which has been battered by fierce competition from rivals like Bharti Airtel and Reliance Communications.
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