Equity capital markets in India saw a massive 37.1 per cent decline in fund raising in 2013, with the year seeing only $ 9.4 billion worth issuances, which is the lowest since 2011 when it stood $8.7 billion through equity and equity-linked instruments, says a report.
In 2008, which witnessed the onset of the global financial crisis, the total money raised in the domestic markets had plummeted to $7.6 billion from the previous year's $31.2 billion, said a Thomson Reuters report on Thursday.
In the year just gone-by, money raised from initial public offerings dipped by 73.3 per cent to $343.3 million while the same from follow-on offers was down 31.5 per cent to $9 billion, it said.
The top IPO offering was Just Dial with $165.4 million being raised, while NTPC's $2.13 billion follow-on offer was the biggest in the category, it said.The capital raising resulted in fees of $ 48.9 million getting generated, the report said, adding this is a 33.1 per cent decline from the same last year. Among the merchant bankers, Citi led the pack, earning $ 4.3 million in fees or capturing 8.7 per cent of the market, it said.