Distinguish between the following: 'Debt market' and 'equity market'.

'Debt market' and 'equity market' The Debt Market is the market where fixed income securities of various types and features are issued and traded. Debt Markets are therefore, markets for fixed income securities issued by Central and State Governments, Municipal Corporations, Govt. bodies and commercial entities like Financial Institutions, Banks, Public Sector Units, Public Ltd. companies and also structured finance instruments. Unlike debt market, equity market allows a company to acquire funds (often for investment) without incurring debt. Equity market is market where a company raise capital by way of issue of equity shares and the equity shares represents the title to the ownership of a company. The shareholder becomes an owner of a company by subscribing to its equity capital (whereby the shareholder will be allotted shares) or by buying its shares from its existing owner(s).