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Economic Times
22-07-2025
- Business
- Economic Times
Top arranger says India IPOs to raise $30 billion over 12 months
The boom in Indian initial public offerings is expected to continue, with companies poised to raise over $30 billion in the next 12 months, according to Kotak Mahindra Capital Co. ADVERTISEMENT Around 150 firms are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country's top arranger for equity deals this year, said in an interview. 'The pace of IPO filings is robust, and it reflects the deepening confidence of issuers in India's capital markets,' he said. India's IPO market had a slow start to the year after companies raised a record $21 billion in 2024. But activity has picked up in recent months. A number of billion-dollar deals are on their way, with this month's solid debut by HDB Financial Services Ltd. also boosting sentiment. The shadow lender's $1.5 billion IPO was India's biggest in 2025. Overall IPO proceeds for this year stand at $7 billion, and Jefferies Financial Group expects up to $18 billion to be raised in the second half.'It's a reflection of our large, fast-growing economy,' Jayasankar said. 'Even if GDP isn't expanding at 8%, a 6%-plus growth rate still creates significant opportunities for businesses,' he said. ADVERTISEMENT Among firms gearing up to enter the market, Tata Capital Ltd. is planning to raise about $2 billion. The Indian unit of South Korea's LG Electronics Inc. is also looking to raise as much as $1.7 Jayasankar counted India's resilience to external geopolitical uncertainties as well as political stability among factors that should continue to underpin the bullish market sentiment, he also highlighted potential headwinds. A weak secondary market, declining domestic inflows, or a shift in foreign investor interest toward more attractively valued markets like China could challenge the IPO momentum, he said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
22-07-2025
- Business
- Time of India
Top arranger says India IPOs to raise $30 billion over 12 months
The boom in Indian initial public offerings is expected to continue, with companies poised to raise over $30 billion in the next 12 months, according to Kotak Mahindra Capital Co. Around 150 firms are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country's top arranger for equity deals this year, said in an interview. 'The pace of IPO filings is robust, and it reflects the deepening confidence of issuers in India's capital markets,' he said. Explore courses from Top Institutes in Select a Course Category PGDM Public Policy healthcare Finance Management others Cybersecurity Leadership Technology Healthcare Design Thinking Data Analytics MBA MCA Project Management Data Science Others Operations Management Degree Digital Marketing Product Management CXO Artificial Intelligence Data Science Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details India's IPO market had a slow start to the year after companies raised a record $21 billion in 2024. But activity has picked up in recent months. A number of billion-dollar deals are on their way, with this month's solid debut by HDB Financial Services Ltd. also boosting sentiment. The shadow lender's $1.5 billion IPO was India's biggest in 2025. Overall IPO proceeds for this year stand at $7 billion, and Jefferies Financial Group expects up to $18 billion to be raised in the second half. 'It's a reflection of our large, fast-growing economy,' Jayasankar said. 'Even if GDP isn't expanding at 8%, a 6%-plus growth rate still creates significant opportunities for businesses,' he said. Live Events Bloomberg Among firms gearing up to enter the market, Tata Capital Ltd. is planning to raise about $2 billion. The Indian unit of South Korea's LG Electronics Inc. is also looking to raise as much as $1.7 billion. While Jayasankar counted India's resilience to external geopolitical uncertainties as well as political stability among factors that should continue to underpin the bullish market sentiment, he also highlighted potential headwinds. A weak secondary market, declining domestic inflows, or a shift in foreign investor interest toward more attractively valued markets like China could challenge the IPO momentum , he said.
Time of India
25-06-2025
- Business
- Time of India
SBI plans Rs 25,000 crore QIP, first share sale in eight years
State Bank of India (SBI) is in advanced stages of appointing six banks to raise upto Rs 25,000 crore via a qualified institutional placement (QIP), its first share sale in eight years as India's largest lender seeks to shore up its common equity tier 1 (CET-1) from 11% at the end of March 2025. Kotak Mahindra Capital Co, ICICI Securities Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, Citigroup Global Markets India Pvt Ltd, Morgan Stanley India Co Pvt Ltd and SBI Capital Markets Ltd are among banks that have been finalised to manage the fund raise for the bank, people familiar with the information said. SBI's last QIP was in 2017. SBI had raised Rs 15,000 crore by selling 52.2 crore shares through the QIP in June 2017. Emails sent to SBI and all the six investment banks did not immediately elicit any response. The bank's board had approved the QIP on May 3. If the bank raises Rs 25,000 crore, it will be the largest share sale through a QIP in India. A QIP is a faster alternative to a rights issue or follow-on public offering because such money is raised in bulk from large institutional investors. 'The bank wants to augment its CET 1 ratio which is the lowest among public sector banks. Growth wise the bank is well placed with the RoE of 19% is much ahead of the 12% loan growth. But capital can now be raised to cushion the CET which is the plan,' said one of the people. The bank is likely to hit the market in the next couple of months. As in the case of the previous QIP when Life Insurance Corporation bid for half the size, this time too, the insurance company is likely to bid for a substantial size. LIC has 9.38 percent stake in the bank as of March 31 and is the largest shareholder in the bank after the central government which owns 57.43 percent. SBI shares gained 1% to Rs 800 a piece on the BSE on Wednesday. A final call on the timing and the size will be decided by the bank based on the market conditions. This fiscal SBI will also receive money from the sale of 13.19% stake in Yes Bank to Japanese lender Sumitomo Mitsui Banking Corporation (SMBC). It also holds a 5.19% in National Stock Exchange which will yield it a substantial sum whenever the stock exchange lists.
