Indian capital mkt at all-time peak

New Delhi: The India equity capital markets (ECM) hit a record high and raised $29.5 billion in the first half this year, up 144.9 per cent compared to a year ago, a report said, as follow-on public offers (FPOs) saw stupendous growth. Initial public offerings (IPO) from Indian companies raised $4.4 billion, up 97.8 per cent compared to the same period last year, and the number of IPOs jumped 70.6 per cent year-on-year, according to data shared by LSEG Deals Intelligence.

“Follow-on offerings, which accounted for 85 per cent of India’s overall ECM proceeds, raised $25.1 billion, up 155.7 per cent from a year ago, while the number of follow-on offerings grew 56.4 per cent year-on-year,” the report mentioned.

ECM issuance from India’s industrial sector accounted for the majority of the nation’s ECM activity with a 21.4 per cent market share worth $6.3 billion in proceeds, a 96.2 per cent increase from a year ago.