The 2006-07 financial year was expected to be a year of unprecedented activity in the Indian equity capital markets following the extraordinary stock market gains of the preceding three years.
The US$6 billion raised through public equity offerings during the year was the highest in the country’s history, but many a rueful banker will admit that the amount could have been much higher.
Several trends affected the level of activity in the Indian equity capital markets during the year, and are likely to influence the nature and volume of deals over the next 12 months.
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Arun Balasubramanian is a partner at Linklaters LLP. His practice is focused on India-related capital markets matters, and his recent transactions include the US$1.9 billion IPO of Cairn India, the US$700 million AIM listing of Unitech Corporate Parks and Tech Mahindra IPO. His other transactions include the IPOs of TCS, NTPC and IDFC and the ONGC and IPCL disinvestments.
Linklaters LLP
One Silk Street
London
EC2Y 8HQ
United Kingdom
Tel: +44 20 7456 5715
Email: arun.balasubramanian@linklaters.com
