Brighter days ahead for Indian equity markets in 2021 as bulls take charge PTI
Mumbai: Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around USD 23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic.
With Jio Platforms alone garnering over USD 16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up USD 6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with USD 85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
MUMBAI: Record equity divestment by the
Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic.
With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
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