India equity, equity-linked issuance grew 72%

Equity and equity-linked issuance by Indian companies raised a total of $14.9 billion from 101 new issues this year, a 72% increase from the comparable period in 2011.

Follow-on offerings captured majority of India's equity capital markets activity with $13.1 billion worth of proceeds, up 86% from the same period in 2011. Proceeds from Indian stake sell downs through block trades reached record volume of $5.6 billion from 15 deals, a 134% increase from the comparable period in 2011.

Convertible issuance also saw a 98% growth over proceeds raised last 2011.Initial public offerings (IPO) slipped 6% to $1.3 billion compared to the $1.4 billion annual proceeds raised during 2011.

Citi leads the ranking for India's equity and equity-linked underwriting this year, with related proceeds of $5.2 billion from 14 deals and accounted for 34.8% of the market share.

According to estimates from Thomson Reuters/Freeman Consulting, India equity capital raisings generated fees of $98.0 million in 2012, a 20.4% increase from last year.  

With estimated fees of $7.6 million, Standard Chartered leads the India ECM fee ranking this year, after a 122.7% increase in fees year-on-year and gaining 3.6 market share points to capture 7.8% of the wallet share.