Swarajya Logo
Swarajya Logo
Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Our Views
    Politics States Economy Society Business Culture Infra Defence World Books Ideas Science Technology Heritage Archives Legal Movies Sports
  • Magazine
  • Store

About Swarajya

Swarajya is a publication by Kovai Media Private Limited.

Swarajya - a big tent for liberal right of centre discourse that reaches out, engages and caters to the new India.

editor@swarajyamag.com

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Useful Links

  • About Us
  • Subscriptions Support
  • Editorial Philosophy
  • Press Kit
  • Privacy Policy
  • Terms of Use
  • Code of Conduct
  • Plagiarism Policy
  • Refund & Cancellation Policy

Participate

  • Contact Us
  • Write for us
  • Style Guide
  • Jobs

Stay Connected

  • Artboard 2 Copy 6Created with Sketch.
    Artboard 2 Copy 10Created with Sketch.
    Artboard 2 Copy 7Created with Sketch.
    Artboard 2 Copy 9Created with Sketch.
  • Andriod Logo
  • IOS Logo

Insta

Indian Companies Raise Record $31 Billion Equity Capital Despite GDP Contraction

Swarajya StaffMonday, September 7, 2020 1:51 pm IST
Women employees working at an office in Gurgaon - representative image. (Priyanka Parashar/Mint via Getty Images)
Women employees working at an office in Gurgaon - representative image. (Priyanka Parashar/Mint via Getty Images)
Women employees working at an office in Gurgaon - representative image. (Priyanka Parashar/Mint via Getty Images)

Indian companies have raised a record $31 billion in equity capital in 2020, Refinitiv data showed, as banks strengthen their balance sheets to prepare for future economic uncertainty and corporates tap into the elevated global liquidity levels.

The record raising comes despite India's economy contracting 23.9 per cent in the June-quarter, year on year, which puts it on track for the first annual contraction since 1980.

The rush of deals though has not been extended to initial public offerings (IPOs), which have fallen to a five-year low to be worth just $1.5 billion, in the eight months year to date, the data showed.

Banks have been the most active issuers, raising $13.68 billion, followed by the energy and power sector with $7.05 billion, and consumer products with $3.41 billion.

Reliance Industries's $7-billion raising in June was the country's largest, the data showed, as the company turned net debt-free and is now looking to expand its consumer business by acquiring Future Group's retail arm.

Real estate companies were identified by corporate advisors as the most likely candidates to tap the markets further in 2020 as property demand is expected to return after the disruption caused by the coronavirus crisis.

Surging cash levels – helped by $15 trillion of stimulus made available for economies to withstand the fallout of the pandemic was primarily responsible for the raising rush, advisors said.

Foreign appetite to buy Indian equities has risen sharply, with investors outside India buying $10.3 billion of new shares in the three months to August, the Refinitiv data showed.

Tags
banks
Capital
Equity

Comments ↓

An Appeal...


 

Dear Reader,

 

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

 

Our business model is you and your subscription.  And in challenging times like these, we need your support now more than ever.

 

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

 

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Get Swarajya in your inbox.


Magazine


Swarajya Magazine Cover Image
Merchandise

Merchandise


    Politics

    Congress Set For Victory In Telangana: Here's Everything You Should Know

    Congress Set For Victory In Telangana: Here's Everything You Should Know

    Swarajya Staff
    15m

    Telangana: CM KCR, Congress' Revanth Reddy Both Trailing Behind BJP Candidate In Kamareddy Seat As Per Latest ECI Trends

    Swarajya Staff
    20m

    Riwaz Continues In Rajasthan: BJP Set To For Government, Yet To Announce Chief Minister

    Nishtha Anushree
    1h

    Economy

    Textile Industry In Tamil Nadu Affected By Increased Competitiveness Of Other States; High Cost Of Power And Labour Among Reasons: Report

    Textile Industry In Tamil Nadu Affected By Increased Competitiveness Of Other States; High Cost Of Power And Labour Among Reasons: Report

    Swarajya Staff
    1d

    Sorry, Cassandras. India's GDP Could Well Top 7 Per Cent In Fiscal 2023-24

    R Jagannathan
    2d

    India's GDP Grows 7.6 Per Cent In July-September Quarter

    Nayan Dwivedi
    3d

    Defence

    India To Secure Entire Pakistan And Bangladesh Borders In Next Two Years: Home Minister Amit Shah On BSF Day

    India To Secure Entire Pakistan And Bangladesh Borders In Next Two Years: Home Minister Amit Shah On BSF Day

    Nayan Dwivedi
    2d

    Indian Navy Makes History By Appointing First Female 'Commanding Officer' Of A Naval Ship

    Swarajya Staff
    2d

    Centre Putting All-Out Efforts To Bring Them Back: Indian Navy Chief On Veterans Sentenced To Death In Qatar

    Swarajya Staff
    2d

    World

    Hamas Leader, Who Virtually Addressed A Pro-Palestine Rally In Kerala In October, On Israeli Spy Agency's 'Kill List': Report

    Hamas Leader, Who Virtually Addressed A Pro-Palestine Rally In Kerala In October, On Israeli Spy Agency's 'Kill List': Report

    Swarajya Staff
    1d

    New Zealand: Three Khalistani Extremists Sentenced For Attempted Murder Of Radio Host Harnek Singh

    Swarajya Staff
    1d

    Brazilian City Council Unknowingly Enacts First AI-Written Ordinance

    Swarajya Staff
    1d

    Culture

    'Animal': Sandeep Reddy Vanga 2 – Liberals 0

    'Animal': Sandeep Reddy Vanga 2 – Liberals 0

    K Balakumar
    23h

    Why The Insidious Anti-Hindu Communalism Of Certain Directors Goes Scot-Free

    Anonymous Contributor
    1d

    Napoleon Film Review: Ridley Scott’s Waterloo

    Venu Gopal Narayanan
    1d
    States

    infrastructure


    Ankit Saxena
    1

    BJP’s Big Infrastructure Push In Madhya Pradesh Assured Their Victory

    6 Mins Read
    Arun Kumar Das
    2

    'Our Motto Is To Mobilise India By Making In India, For India And For The World': Siemens Mobility Head

    3 Mins Read
    Arun Kumar Das
    3

    Government Propels National Green Hydrogen Mission With Kochi Workshop

    2 Mins Read
    Arun Kumar Das
    4

    Railways Achieves 1015.6 Million Tonnes Freight Loading Between April-November 2023

    1 Mins Read