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Record share sales bring banks little cheer in the way of fees

Main stock indexes surged almost 30% in 2017 as investors bet on economic reform and corporate earnings recovery

Reuters  |  Mumbai/Hong Kong 

Funds raised in India through share sales reached the most in a decade this year thanks to booming stock markets, but the rush to raise capital while investor sentiment remained bullish pushed dealmakers' fee ratio to multi-year lows. India's main stock indexes surged almost 30 per cent in 2017 as investors bet on economic reform and corporate earnings recovery. That spurred almost $30 billion worth of share sales including a record $11.5 billion in initial public offerings (IPO). But for banks which arrange the sales, fees earned as a percentage of funds raised hit the ...

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First Published: Sat, December 23 2017. 00:36 IST
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