Axis Bank Ltd remained the top guarantor of domestic bond issues in the January- September period, when Deutsche Bank AG was the biggest underwriter of initial public offerings (IPOs) of shares, according to data compiled by Bloomberg Finance Lp. Public sector State Bank of India continued to top the table as the mandated arranger of loans.
Total funds raised by Indian companies rose almost 23% to about Rs1.7 trillion during the nine months, which, however, saw a 35% decline in money raised through IPOs and a 60% drop in qualified institutional placements (QIPs), as markets turned weak.
The segment that garnered the most funds in equity offerings was energy (oil, gas, power), which saw a $3 billion (Rs14,100 crore today) IPO from Reliance Power Ltd in January.
Also See India domestic equity offerings (Graphic)