EQUITY FUND-RAISING OFF TO BEST START IN EIGHT YEARS

1Q2017

Equityissuances bydomestic companies totalled

$8.7 billion in the firstquarter of2018, a 2.2 times jump over the corresponding period of lastyear, data provided by Thomson Reuters showed. The firstquarter equity fundraising was also the most since 2010, when $8.9 billion was raised. Initial public offerings (IPO) raised a total of $2.8 billion, a 4.5 times jump over the same period last year. This was the best first quarter for IPOs since 2008, when $3.7 billion worth of IPOs had hitthe market. The financials sector accounted for 46.3 per centofthe equity fund-raising activity, followed bythe technology sector (17.2 per centmarket share) and industrials (15 per cent). Investmentbanking fees rose 5.2 times to $234 million for the quarter. Axis Banktopped the equity capital market league table with $39.8 million in fee revenue and 15.1 per centof the marketshare. Top 5 Axis Bank

Citi SBI Kotak Bank Proceeds ($ mn) Q12017 Q12018

152.9

1,314.0

418.6

1,171.0

390.7

1,012.0

1,011.5

869.0

—

692.0 Morgan Stanley

Industry total Q12017 Q12018 No of deals 4 9 3 6 8 9 3 5 Break-up/

Proceeds ($ mn)

(No of deals) Follow-on 3,368 (19) IPO 616 (37) Industry total

3,984 (56) Break-up/

Proceeds ($ mn)

(No of deals) Follow-on 5,925 (27) IPO 2,807 (68) Industry total

8,731 (95)

TOP ECM OFFERINGS

Proceeds ($ mn) / Type Tata Steel

1,948.30

TCS

1,384.80 Follow-on Bandhan Bank 687.1

Hindustan Aeronautics

637.7

ICICI Securities

541.3 Follow-on IPO IPO