This year in the ECM, we witnessed a variety of IPOs, some of which were successful, such as Nykaa, and others that were not so successful, such as the Paytm IPO. Despite the uncertainty caused by the COVID-19 epidemic, the finance Ministry reported that fundraising through public and rights issues increased by 115% and 15%, respectively, in 2020-21. According to the ministry, FY21 had 55 initial public offers and one follow-on public offering. According to the report, 21 rights disputes were effectively resolved during the fiscal year, up from 17 the previous year. The Indian equities capital market raised $35.6 billion in 2021, a 4.3 percent decrease in proceeds. However, the number of ECM offers increased by 73.6 percent. Follow-on offerings, which accounted for 52% of India’s total ECM revenues, garnered $18.6 billion in 2021, a 42.8 percent decrease from the previous year. This despite a 21.4 percent increase in the number of follow-up proposals. In 2021, initial public offerings reached historic highs, raising $16.6 billion, more than four times the amount raised the previous year. The number of such services increased by 172.7 percent as well. Three-fourths of the IPO revenues were raised in the second half of 2021, when 81 IPOs totaling $12.5 billion were launched.
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