INSUBCONTINENT EXCLUSIVE:
At least 64 Indian businesses have hit the equity capital markets in 2021India's investment bankers are set for their most rewarding year as
local initial public offerings head for an all-time high despite the devastation brought about by a deadly Covid-19 wave
Listings in Mumbai have already raised $10.2 billion this year, according to data compiled by Bloomberg
Banks steering those offerings have raked in record fees of almost Rs 1,400 crore, more than double the amount they earned during the
previous peak in 2017, figures provided by New Delhi-based Prime Database show.The bumper pool of fees has become all the more significant
for the bankers in an especially harrowing year
A massive surge in coronavirus infections in April and May reached the doorsteps of Mumbai's urban affluent, a group that's usually
insulated from the country's worst disasters
Bankers were among those who struggled to arrange oxygen tanks and intensive-care beds for loved ones, all the while juggling their workload
president of investment banking at IIFL Securities Ltd
in which companies ranging from technology startups to jewelers and drugmakers have raised a record $476 billion worldwide this year
equity capital markets in 2021 as a pandemic-defying stock rally took the S-P BSE Sensex to a record
The benchmark is Asia's best performing major index this year
First-time share sales could reach 1 trillion rupees in 2021, said Jayasankar Venkataraman, head of equity capital markets at Kotak Mahindra
Bloomberg-compiled data show
SoftBank Group Corp.-backed digital-payments startup Paytm has filed to mop up as much as 166 billion rupees.A mega IPO is in the works, but
that's slated for early next year
The Indian government is considering selling as much as 10% of state-owned Life Insurance Corp
pandemic has accelerated the adoption of digital platforms in India, helping shorten the process
The so-called road shows in which arrangers hop from city to city making pitches to investors are now entirely wrapped up in a matter of
February.Earlier, bankers used to devote less time to their families thanks to demands of constant travel, but with the lockdowns,
work-from-home and other curbs, they don't complain about that anymore, he said
Despite being at home, their loved ones still miss them because the bankers end up spending most of their time on conference calls or with
institutions like Mumbai-based ICICI Securities Ltd
that are partially open -- including during late hours -- are providing transport facilities to ferry staff between office and home in the
A few are even paring back smaller IPOs to focus on larger and more lucrative issuances.Ajay Saraf, executive director and head of
investment banking at ICICI Securities, said he's decided to manage only offerings above 10 billion rupees
are stepping up hiring to cope with the workload
bank, which has had a presence in the South Asian country since 1902, said this month that it added eight new positions to its investment
banking team -- mostly juniors -- boosting the local crew by 25% to 40
