The primary market puzzle: Too much, yet too little?

FY25 saw record IPO and QIP fundraising, but most capital hasn’t fueled new projects. Like FY24, funds largely went to debt repayment, general expenses, or promoter exits via OFS. With private investment still below 11% of GDP, hopes of a capex-driven economic revival remain premature.

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Federal Reserve holds rates steady in a divisive vote

The Federal Reserve kept interest rates unchanged. However, the decision revealed significant disagreements among officials. Three policymakers opposed the statement’s bias towards lowering borrowing costs.