Barclays Plc is preparing to restart its equity capital market business in India after nearly a decade, capitalizing on a surge in share sales. "That's one important product missing in our otherwise very strong wholesale banking offering," said Pramod Kumar, CEO of Barclays India. A return would allow the London-headquartered bank to compete for underwriting mandates as the IPO pipeline stays strong after two straight years of unprecedented deals. Investment banks earned a record $417 million in IPO fees in India last year, according to LSEG data, as a surge in listings and improved pricing power boosted revenues.
About 170 companies have received approval for IPOs, while another 115 await a decision. The boom has drawn interest from global banks including Emirates NBD PJSC and DBS Group Holdings Ltd., intensifying competition with domestic firms.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing