India Inc raises record $30 billion in 6 months, riding FPO wave
Business new tamfitronics MUMBAI: Indian companies raised a record $29.5 billion (nearly Rs 2.5 lakh crore) in the equity market through IPOs & FPOs during the first half of 2024, more than double the amount raised in the same period last year. The Jan-June total is the highest-ever in terms of proceedswith the number of issuances also rising 64%.The surge has been driven by follow-on public offers (FPOs) this year - making up 85% of the total proceeds this year, LSEG's India Investment Banking Review said.In the first half of 2024, Indian IPOs raised $4.4 billion - a 98% increase compared to the year-ago period. The number of IPOs also saw a 71% jump year-on-year. India accounted for 27% of global IPOs by volume, up from 13% in the same period last year.Follow-on...
