Flashback 2019: IPO activity slumps again but total equity fundraising rebounds

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India’s overall equity capital market (ECM) fundraising staged a smart recovery in 2019 after falling last year, even though primary market activity slipped to a five-year low. ECM fundraising had taken a substantial hit in 2018 owing to volatility in stock markets and thinning liquidity. But Prime Minister Narendra Modi’s massive victory ......