In 2024, Indian primary market bucked the two-decade trend of coming to a virtual standstill before a general election with record fundraising. Several issues are likely to be launched even in May as investors and companies are less uncertain about the outcome of the elections this year.
According to the report, of all the companies with equity shares listed on the NSE main board, the Big 6 Indian audit firms secured 637 assignments out of 1,961. This accounted for approximately 32.48% of the total, up slightly from 32.14% the previous fiscal year. Auditor details were missing for 47 organisations. A key standout has been the strong performance of Grant Thornton and MSKA affiliates who have established themselves as strong alternatives to the Big Four firms in audit business.
The highest mobilisation through debt private placements during the year was by NABARD (Rs 65,393 crore) followed by REC (Rs 52,140 crore), HDFC (Rs 46,062 crore), PFC (Rs 45,130) and SIDBI (Rs 38,600 crore)
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank.
During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore.
This is a 21 per cent rise compared to FY23, the note added.
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