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'Fund raising via equity sale drops 37% to $9.4 bn in 2013'

PTI | Last Updated: Thursday, January 2, 2014 - 19:04

Mumbai: Equity capital markets in India saw a massive 37.1 percent decline in fund raising in 2013, with the year seeing only USD 9.4 billion worth issuances, which is the lowest since 2011 when it stood USD 8.7 billion through equity and equity-linked instruments, says a report.

In 2008, which witnessed the onset of the global financial crisis, the total money raised in the domestic markets had plummeted to USD 7.6 billion from the previous year's USD 31.2 billion, said a Thomson Reuters report today.

In the year just gone-by, money raised from initial public offerings dipped by 73.3 percent to USD 343.3 million while the same from follow-on offers was down 31.5 percent to USD 9 billion, it said.

The top IPO offering was Just Dial with USD 165.4 million being raised, while NTPC's USD 2.13 billion follow-on offer was the biggest in the category, it said.

The capital raising resulted in fees of USD 48.9 million getting generated, the report said, adding this is a 33.1 percent decline from the same last year.

Among the merchant bankers, Citi led the pack, earning USD 4.3 million in fees or capturing 8.7 percent of the market, it said.

Citi was followed by JP Morgan with USD 4 million in fees, Credit Suisse (USD 3.7 million), Axis Bank (USD 3.6 million), SBI Caps (USD 3.1 million) and Kotak Securities (USD 3 million), it said.

First Published: Thursday, January 2, 2014 - 19:01
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