Which of the following is not a source of equity funding? a) Initial public offering

The correct answer to the given question is option e) Government grants.

The equity funding is a source of funding where the equity-holders are given a share in the ownership of a firm in exchange of funds provided to the firm for making investment. Some examples of equity funding are initial public offering, follow-on public offering, angel investing, private placements and venture capital funding. The grants provided by a government is neither debt nor equity as the government does not expect anything in exchange for funds provided.