New Delhi, September 21 (IANS) The Indian stock market remains strong amid global challenges. In such a situation, the month of September is going to be the busiest in terms of IPOs in the last 14 years. The Reserve Bank of India (RBI) gave this information on Saturday.
According to the Reserve Bank of India (RBI), so far, more than 28 companies have entered the Indian stock market.
Indeed, the financial markets continue to fluctuate. In the primary equity market, small and medium enterprises (SMEs) have seen increased interest in IPOs, including from domestic mutual funds.
According to the central bank’s monthly report, about 54 per cent of the IPO shares allotted to investors were sold within a week of listing.
“An increasing number of listed companies are moving towards qualified institutional placements (QIPs) to raise an estimated Rs 60,000 crore of funds in the first eight months of 2024,” the report said.
RBI said that the benchmark indices have risen in the secondary market with occasional improvements on global cues and its outlook also remains strong.
Global funds are investing heavily in the Indian loan market for the fifth consecutive month since May 2024. On the other hand, corporate debt has remained low so far during the current financial year, while issuers waited for US rate cuts.
The RBI has said that large risk capital investors are treading cautiously and the number of micro venture capital firms and founder-led funds is increasing in early-stage investing.
Meanwhile, the central bank said in a statement: “Fintech lenders hold more than 52% of the private lending market and are increasingly turning to private lending to raise funds and diversify loan sources.”
–IANS
FM/CBT
