About four dozen companies, including Indian Oil, Grasim, Tata Consumer, South Indian Bank, UPL, among others, have either declared or are contemplating rights issues to mobilise funds amounting to more than ₹50,000 crore.
December is traditionally a subdued period for fundraising, characterized by a lull in activity as international investors take their year-end break for Christmas and New Year.
This year s different. It s a bumper month for equity issuances as India Inc is poised to secure a record-breaking ₹20,989 crore from initial public offerings (IPOs), qualified institutional placements (QIPs), and other avenues such as rights issues and offers for sale, beating the previous best of ₹13,758 crore seen in December 2017.
The state-owned Indian Renewable Energy Development Agency (IREDA) public offer that opened a day earlier on Tuesday has been subscribed five times already.
In a career spanning nearly 2 decades, Ramchandani has previously worked in investment banking roles at IDFC First Bank, ICICI Securities and SBI Capital