India has gradually started to ease the lockdown imposed in late March to slow the spread of the coronavirus outbreak even though the number of infections is still rising. The lockdown has led to a deep downturn in economic and corporate activity, and also impacted the capital markets.
Benchmark indices slumped in March after touching record highs earlier in the year, but recovered some of those losses in April before falling again this month. The uncertainty has forced companies to defer initial public offerings.
As companies reopen offices and fire up the factories again, they have appealed to the government to provide a package to tide over the economic fallout caused by the crisis. How will all this affect the capital markets and publicly listed companies' operations and capital-raising exercises?
In this podcast, we talk about what IPO activity might look like following the end of the lockdown, as well as company valuations and the possibility of a resurgence of private capital-led fundraising rounds.