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JPMorgan Sees India Share Sale Boom Reaching $30 Billion in 2024

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(Bloomberg) -- India will see at least $30 billion raised annually through primary and secondary share sales in 2024 and in the years to come, as companies and their shareholders are more willing to tap the market for funding, according to JPMorgan Chase & Co.Most Read from BloombergMGM Resorts Hackers Broke In After Tricking IT Service DeskUS, Chinese Officials Meet in Malta in Bid to Keep Channels OpenHouse Republicans Prepare to Turn US Government Shutdown Into Immigration ClashThe World Is S

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg. The momentum can sustain into next year and beyond as owners of Indian companies are keen to raise funds for other investments, said Abhinav Bharti, India head of equity capital markets at JPMorgan. Demand from local asset managers as well as foreign investors is also driving share sales, he added.

JPMorgan is the top manager of equity and rights offerings in India in the first eight months of 2023, according to data compiled by Bloomberg League Tables. The American bank has a market share of nearly 15%, followed by Kotak Mahindra Bank Ltd., which has an 11% share of the market.

 

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JPMorgan Sees India Share Sale Boom Reaching $30 Billion in 2024India will see at least $30 billion raised annually through primary and secondary share sales in 2024 and in the years to come, as companies and their shareholders are more willing to tap the market for funding, according to JPMorgan Chase & Co.
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