In the first nine months of 2017, Indian companies together raised around USD 17.2 billion by selling equity and equity-linked securities, Mint reported quoting a Thomson Reuters report. This was 138 percent more than the amount raised in the same period last year.

The number of issuances in the period under review also grew by over 55 percent year-on-year. The amount raised through them was the highest since 2007, when companies raised USD 24.2 billion from the equity market in the first nine months.

A majority of the issuances done in 2017 came in the July-September quarter, with companies raising a total of USD 6.7 billion. This was 3.1 percent higher than the amount raised in the June quarter.

Follow-on public offerings accounted for over two-thirds of the total money raised through equity issuances. Companies raised a total of USD 11.8 billion through FPOs, 189 percent more than they did last year, and State Bank of India’s USD 2.3 billion qualified institutional placement (QIP) was the largest among them.

Funds raised through initial public offerings (IPOs) amounted to USD 5.5 billion, 90 percent more than the amount raised last year. This was the highest amount raised through IPOs in the first nine months of a year since 2007, when companies raised USD 6.8 billion through IPOs.

Sector-wise, the financial services sector raised more funds from the equity market than any other sector, accounting for 50.4 percent of the total amount raised.