Our man in Hyderabad

Citigroup's India CCO and CIB head, Sanjay Nayar shares his views at the ADB meeting on why Indian companies are busy raising so much money.
India's capital markets are hotter than ever. What is prompting this issuance and is it sustainable

The increasing use of capital markets by India inc is in part due to the growing trend of offshore MA from India and re-emergence of capex for catering to the growing local demand. India is home to some world-class companies and they are increasingly looking offshore to diversify their portfolios. So far this year, Indian companies have announced 47 overseas acquisitions, worth about $2.2 billion.

This compares to the record $3.7 billion or so for foreign acquisitions in 2005 and thus far 2006 is shaping up to be another record year for offshore MA from India. Many...

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