India to see at least $30 billion raised annually through equity sales in 2024 and beyond, says JPMorgan

| Leave a Comment | Business

JPMorgan Chase & Co. expects India to raise at least $30 billion annually through primary and secondary share sales in 2024 and beyond, as companies and their shareholders are more willing to tap the market for funding.

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022. The momentum can sustain into next year and beyond as owners of Indian companies are keen to raise funds for other investments. Demand from local asset managers as well as foreign investors is also driving share sales.

The American bank is the top manager of equity and rights offerings in India in the first eight months of 2023, with a market share of nearly 15%.

In contrast, India’s IPO activity has slowed down significantly this year, tracking a global slump in dealmaking. However, a couple of $1 billion-plus IPOs could return to India after the country’s federal elections between April and May, according to JPMorgan.

Strong corporate earnings and robust economic growth are drawing investors even as they flee other Asian emerging markets. China’s currency has plunged amid concerns over the once fast-growing nation’s precarious economic outlook and geopolitical tensions.

“Because of recent softness in Chinese economic data, a lot of these global EM fund managers are underweight on China and now where you go and deploy that extra capital, you must have a counter overweight as well,” said JPMorgan’s India head of equity capital markets, Abhinav Bharti. “India is benefiting from that.”


Related News

  • 22 Sep

    OYO Records Strong Growth in Business Travel Segment

    OYO, a hospitality tech platform, has recorded strong growth in the business travel segment in the first seven months of 2023. The company has added nearly 2,800 corporate clients and its revenue from business travel has grown by 20%. The growth is being driven by strong demand from startups, film production houses, travel management companies, small and medium scale enterprises, and traditional business houses & conglomerates. OYO's commitment to providing affordable and reliable accommodation options to businesses of all sizes has made it a preferred choice for businesses across India.

  • 22 Sep

    Pharma Major Lupin Acquires 5 Legacy Brands from Menarini for Indian Market

    Pharma major Lupin Limited has acquired five legacy brands in strategic therapy areas from Menarini for the Indian market. The brands are Piclin, Menoctyl, Sucramal O, Pyridium, and Distaclor. This strategic acquisition is in line with Lupin's goal to broaden its presence in the Indian market and offer a comprehensive range of products. The five brands acquired by Lupin have a range of medicinal properties and are used to treat a variety of conditions, including constipation, irritable bowel syndrome, acidity, stomach ulcer, heartburn, pain, burning, increased urination, and increased urge to urinate.

  • 22 Sep

    JPMorgan to Add Indian Government Bonds to Benchmark Emerging-Market Index

    JPMorgan is adding Indian government bonds to its list of emerging market bonds that it invests in. This is a good thing for India because it means that more foreign investors will be able to buy Indian government bonds. This could bring in billions of dollars of investment into India, which would help the Indian economy grow.

  • 21 Sep

    Liberty General Insurance Appoints Parag Ved as CEO

    Liberty General Insurance, a leading general insurance company in India, has announced the appointment of Parag Ved as its new Chief Executive Officer (CEO). Ved has over two decades of experience in the insurance industry, having held senior leadership roles at prestigious organizations such as ICICI Lombard General Insurance and Tata AIG General Insurance. He takes on the role following the retirement of Roopam Asthana.

  • 21 Sep

    Schneider Electric India to invest Rs 3,200 crore by 2026

    Schneider Electric India plans to invest Rs 3,200 crore by 2026 to expand its industrial footprint in the country and focus on sustainable solutions. The company aims to be net-zero in its operations by 2030, carbon neutral by 2040, and net-zero CO2 emissions across its entire value chain by 2050.

Leave a Reply

Your email address will not be published. Required fields are marked *