The election of Prime Minister Narendra Modi last
May seems to have resolved market participants’
biggest concern: regulatory certainty. But more needs to be
done to boost its equity capital markets.
In India most companies rely on equity capital
markets to raise funds. Following the election, issuers flooded
the market with qualified institutional placements (QIPs).
Deals have since slowed. That’s
because IPOs take about six months from the decision to list to
the actual listing, but others are waiting for clarity on
Some concerns arose more than others. Here are the
top four issues highlighted by speakers at the IFLR India
Capital Markets Forum in Mumbai last week.
More deals are expected as regulatory certainty in India
improves, but some changes are still needed;Clarity is needed
for sponsor-backed IPOs, which may not include a traditional
promoter;The market is waiting to how the Reit and