Kotak Bank leads in equity offerings – Banking & Finance News

Kotak Mahindra Bank emerged as the top player in the equity offerings league table for FY24, managing a whopping 43 issues and raising a total of ₹31,655 crore. This year saw companies collectively raising about ₹2.9 trillion through a total of 400 issuances, marking a significant milestone in the financial market.

Citibank secured the second position with 18 IPOs and a total value of ₹31,467 crore, closely trailing behind Kotak Mahindra Bank. BofA Securities clinched the third spot with 14 issues and a market share of 8.87%, according to data from Bloomberg.

The equity offerings encompassed a variety of offerings including IPOs, FPOs, OFS, QIPs, REITs, and InvITs, showcasing the diverse range of fundraising avenues available to companies in the market.

JP Morgan, IIFL Finance, ICICI, JM Financial, Morgan Stanley, and Goldman Sachs also made it to the top 10 list of equity offering managers, each contributing significantly to the overall market share.

The overall public equity fundraising in FY24 witnessed a remarkable 142% surge to ₹1.86 trillion, reflecting the robust investor sentiment and confidence in the market. With a surge in OFS, QIPs, and other fundraising avenues, companies were able to mobilize substantial capital for their growth and expansion plans.

Despite some advisors experiencing a decline in market share, the overall market saw a mix of gainers and losers, with prominent names like BNP Paribas, IIFL Finance, and Edelweiss Financial Services making significant gains in their market share.

Overall, the FY24 fiscal year showcased a dynamic and vibrant equity market, with a multitude of companies and advisors actively participating in the fundraising activities, signaling a positive outlook for the financial sector in the coming years.