Kotak Mahindra Bank emerged as the top manager for equity offerings in FY24, overseeing a whopping 43 issues and raising a total of ₹31,655 crore, securing a 10.89% market share. The private lender outperformed its competitors, with Citibank coming in second with 18 IPOs and ₹31,467 crore in value terms, followed by BofA Securities in third place.
The equity offerings in FY24 encompassed a variety of offerings, including IPOs, FPOs, OFS, QIPs, REITs, and InvITs. The overall public equity fundraising saw a significant increase of 142% to ₹1.86 trillion, with 76 companies raising ₹61,915 crore through main-board IPOs alone.
Promoters also saw a rise in OFS, with a total of ₹21,055 crore raised, including a substantial divestment by the government. QIPs experienced a massive surge, with 55 companies raising ₹68,933 crore, nearly seven times higher than the previous fiscal year.
While some advisors experienced a decline in market share, others saw significant gains. Nomura, Jefferies, and Morgan Stanley reported decreases, while BNP Paribas, IIFL Finance, and Edelweiss Financial Services were among the gainers.
Overall, 87 managers, including Axis Bank, Avendus Capital, and State Bank of India, oversaw a total of 400 issues worth ₹2.9 trillion in FY24. The year proved to be a lucrative one for equity offerings, showcasing the robustness of the market and the confidence of investors in the Indian economy.