ICICI Securities First Indian Senior Manager to Top Investment Banking Tables: Report


ICICI Securities, the country’s leading book manager, became the first Indian investment bank to top the investment banking deal tables in a record year of initial public offerings (IPOs). Meanwhile, Axis Bank has retained the top spot for debt since 2007, according to BloombergQuint.

For both equity and debt combined, the two Indian companies rank in the top five. The rest were foreign banks. Four of the top five were foreigners last year, with Axis Bank rounding out the list. The Mumbai-based lender was also in the top five in 2020, the BloombergQuint report added.

In calendar year 2021, a record 63 companies raised over Rs 1.18 lakh crore through IPOs, which was the best year for India’s IPO markets since its opening. creation.

The Indian IPO market was nearly 4.5 times higher than the Rs 26,613 crore raised through 15 issues in 2020 and almost double the previous best of Rs 68,827 crore in 2017, reported the PTI news agency citing a report from Prime Database.

Pranav Haldea, chief executive of Prime Database Group, said the IPO frenzy was driven by loss-making new age tech start-ups as well as strong retail participation, and the massive listing gains that resulted from it. resulted were the main highlights of the year. Another highlight was that only 51% or Rs 103,621 crore of the total of Rs 2,020,009 crore was a new fundraising and the remaining Rs 98,388 crore was for sale.

Overall, public equity fundraising has so far crossed the Rs 2 lakh-crore mark to Rs 2,02,009 crore in 2021, which is higher than the previous record of Rs 1,76,914 crore. Rs in 2020, according to the Prime Database report.

Haldea said the biggest motherboard IPOs were the One97 Communications (Paytm) issue of Rs 18,300 crore, followed by the Zomato delivery app at over Rs 9,300 crore. The average issue size was Rs 1,884 crore this year.

Of the 59 issues for which data is currently available, 36 were oversubscribed more than 10 times, six of which were over 100 times, while eight were oversubscribed more than three times. The remaining 15 have been oversubscribed 1 to 3 times.