Buoyant market conditions have provided a fertile ground for listed companies to raise capital through rights issuance. With ₹17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at ₹7,266 crore. This also marks the highest amount raised since 2021, when 11 firms collected ₹27,771 crore.
Half a dozen companies have already concluded fundraises of more than ₹1,000 crore each via rights issues this year, with the average ticket size also doubling compared to last year.
The largest of these was Aditya Birla Group's flagship company Grasim Industries, which raised ₹4,000 crore at the start of the year.
Sammaan Capital (formerly Indiabulls Housing Finance) raised ₹3,693 crore in February, and tea beverage major Tata Consumer Products completed its nearly ₹3,000 crore issuance just earlier this month.
Rights issues allow listed firms to raise new capital by offering new equity shares to existing shareholders, typically at a discount to the market price.
Diese Geschichte stammt aus der August 16, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der August 16, 2024-Ausgabe von Business Standard.
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