In a first, India among the top five ECM markets globally in 2022

Interestingly, in 2022 India also broke into the top-five league in terms of market capitalization

India was among the top five markets, globally, in terms of equity fundraising despite the quantum of funds raised declining by 43 per cent.
 

According to a report by Kotak Investment Banking, funds to the tune of $16.4 billion were transacted via equity capital market (ECM) activity in India in 2022.
 

Traditionally, India has rarely featured in the top 10 in terms of ECM activity. Interestingly, in 2022, India also broke into the top-five league in terms of market capitalisation.
 

India's outperformance comes on the back of a sharper decline in ECM activity in major markets such as the United Kingdom, Australia and Japan. ECM activity globally took a hit on account of heightened volatility amid rising interest rates.
 

S. Ramesh, managing director & chief executive officer, Kotak Investment Banking, said Indian markets have become stronger as far as ECM activity is concerned, underpinned by encouraging participation by domestic investors.
 

The investment bank expects fund raising by way of initial public offerings to jump 30 per cent this year, led by sectors such as pharmaceutical and healthcare.

Fishing in troubled seas	Fund raising landscape remained challening last year
-	Funds raised ($ bn)	YoY Change (%)
China	164.6	-38
United States	73.4	-85
Germany	20.9	-28
Canada	19.4	-56
India	16.4	-43
United Kingdom	13.9	-78
Australia	11.3	-63
Japan	9.2	-75
Saudi Arabia	9	8
Singapore	4.7	-54

Source: Kotak Investment Banking, Bloomberg