Indian ECM proceeds fall 4.3% to $35.6 billion in CY21, shows data

The Indian equity capital markets (ECM) raised $35.6 billion in 2021, witnessing a 4.3 per cent YoY decline in proceeds, said Refinitv in its India Investment Banking Review 2021.  But there was 73.6 per cent growth in the number of ECM offerings.
 
The report said the funds raised through ECM deals fell because deals were of smaller values. Investment banking activities generated $1.1 billion in 2021, an 8.5% increase over the previous year and also the highest ever since records began in 2000.
 
Follow-on offerings, which accounted for 52 per cent of India’s overall ECM proceeds, raised $18.6