Equity fundraising draws a blank in November for the first time in 5 years

Equity fundraising came to a grinding halt in November despite a sharp recovery in the secondary markets. According to the data by PRIME Database, not a single penny was raised either through initial public offerings (IPOs) or additional fundraising avenues such as qualified institutional placements, rights offerings, and offer for sale.

This was the first time since November 2013 — amid turbulence created by taper tantrum — when India Inc didn’t raise a single rupee through equity issuance, the data showed. Taper tantrum is a term used to describe the turbulence in global equities and emerging market currencies due to