Merchant Banking in Indian Primary Capital Market during 1990-2000

The capital market scenario, both in India and abroad, has undergone a sea change in view of the globalization and liberalization policies undertaken by the Government in order to promote growth in different sectors of the economy. Under such situation, there has been a paradigm shift in the scope of financial services. Merchant bankers are regarded as service oriented entities specializing in investment and financial decision making, assisting in projecting corporate strategies, assessing capital needs and supporting in procuring the equity and debt funds for corporate sectors. They play a lead role in mobilizing financial resources from the primary capital market to the corporate sectors through issue management activities. But how did they perform? Here, a humble attempt has been made to that end. With a view to assessing the performance of merchant bankers on capital issue management in India during 1990-2000, the study has been made through eight chapters. This book has been designed to meet the needs of students pursuing undergraduate, postgraduate and professional courses in commerce, management and finance. The present work, indeed, is based on my Ph.D work in finance.