Fundraising through public issues could see an uptick in 2023 as retail investors bet on attractive interest rates and companies look to diversify their funding portfolio under tightening liquidity conditions, bankers and analysts said.
Indian companies raised around 5.38 trillion rupees through private placements in 2022, largely aided by the banking system's massive cash surplus, data showed."As rates are settling at higher levels, retail investors would be keen to put funds in public issues," said Ajay Manglunia, managing director and head of investment grade group at JM Financial.
Corporates have traditionally preferred raising funds via private placements due to its ease, shorter execution time, and lower costs overall. Indian companies raised 127.1 billion rupees and 175.3 billion rupees through public issues in 2020 and 2021 respectively, SEBI data showed.
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