Business · India Bureau
Indian companies raise record $25bn despite broader market headwinds
Equity fundraising by Indian firms surged 75% year-on-year in the first half of 2024, reaching $25 billion, defying broader market slowdown. New listings also outperformed expectations, with average listing gains doubling to 19% from 7% in the same period last year.
LSN India ·
Indian companies demonstrated resilience in capital markets during April-September 2024, mobilizing a record $25 billion through equity offerings despite economic headwinds affecting broader markets, according to data from PRIME Database Group.
The 75% year-on-year surge in fundraising reflects sustained investor appetite for Indian equities and growing confidence in domestic growth prospects. The strong performance underscores the country's position as an attractive destination for capital raising, even as global markets contended with rising interest rates and geopolitical uncertainties.
Performance metrics for new listings also exceeded prior-year benchmarks significantly. Companies completing initial public offerings achieved average listing gains of 19% in the first half of 2024, more than double the 7% average recorded during the corresponding period in 2023. The improvement suggests robust demand from retail and institutional investors for newly listed securities.
The dual surge in fundraising volumes and listing performance indicates strength across India's primary equity market, driven by a combination of regulatory reforms, improved market infrastructure, and investor confidence in long-term growth narratives in sectors ranging from technology and financial services to infrastructure and consumer goods.